Sony unveiled its iteration on the PS4 at an event at in New York this morning.
The new console is called PlayStation 4 Pro (PS4P), and targets hardcore gamers and those with advanced display technology, said Sony.
It will launch on November 10 for NZ$638, and is available to pre-order now from Mighty Ape.
"There's a desire for advancement and [gamers] want it this generation," said president and global CEO of Sony Interactive Entertainment Andrew House.
"Games are a natural for 4K and HDR."
The PS4P will transform gaming and entertainment in a way we haven't seen since the shift from standard to high definition, House later added, and will "transform how PlayStation 4 titles are experienced".
Sony also unveiled a slimmer, lighter, cheaper version of its PlayStation 4, as well as the Pro device, which is targeted at hardcore gamers that features high-resolution images and a 1-terabyte hard driv
Sony emphasised the system's interoperability with vanilla PS4s, and how easy it was to transfer games between the two systems.
Specs for the PS4P beyond its 1TB hard drive were not divulged, but lead system architect Mark Cerny said the PS4P had double the standard PS4's GPU power and a "boosted CPU clock rate".
Greater memory bandwidth was also mentioned.
The goal was not to blur lines between generations, said Cerny, but instead was to provide "high fidelity graphical experiences".
Such experiences will be possible thanks to streamlined rendering that takes advantage of custom hardware, high dynamic range, and anti-aliasing (and presumably, some grunty upscaling). The results are "astonishing", said Cerny.
The console's efficient rendering for 4K displays means it will be able to "reach resolutions not thought to be possible in 2016", he added.
The PS4P's HDR and 4K capabilities were trumpeted, but Cerny also mentioned that Sony won't expect all developers to support those features.
He also acknowledged that HDR standards are in flux, but it seems likely Sony will go with HDR10 as Xbox has for the Xbox One S.
The console's capabilities were touted with short clips of Days Gone, Uncharted 4, Infamous First Light, Insomniac's Spider-Man title, For Honor, Deus Ex: Mankind Divided, Rise of the Tomb Raider, Watch Dogs 2, Killing Floor 2, and Horizon Zero Dawn.
A blurb at the base of the footage carefully noted that select features were dependent on the display connected to PS4P - Sony's way of acknowledging that not many own HDR or 4K capable TVs at this stage.
Even so, those with full high definition (1080p) TVs would still see a benefit in the PS4P thanks to the extra grunt powering super sampling anti-aliasing (SSAA) and other visual effects, said Sony.
As for whether existing games would be better, House said that half a dozen first-party games and "quite as few" third-party games would be patched to support the new console's features.
The PS4P will allow for increased crispness and richness and a better frame rate in PS VR games compared to the standard PS4, said House.
For example, Farpoint developer Impulse Gear doubled the game's pixel count for PS4P, he said.
Activision CTO Andy Hendrickson announced that Call of Duty: Black Ops III, Call of Duty: Infinite Warfare and Call of Duty: Modern Warfare Remastered would all support 4K graphics at 60fps and feature richer textures on PS4P.
Sony also announced that the PS4P would feature "best in class 4K streaming services".
A Netflix app available on launch day will feature 600 hours of 4K content by end of the year, including Narcos season 2 and Luke Cage, with both supporting HDR as well.
In addition, a YouTube 4K app will be available.