Sony is getting ready to replace the PS4. And with not one, but two new devices.

The much-rumoured next-gen PlayStation 4 Neo (AKA PS4K or PS4.5) is heavily tipped to be unveiled at a Sony PlayStation event in New York today, Wednesday 7 September. Plus, the company is also expected to officially reveal a PS4 Slim; a thinner, tidier version of the current console at the same event.

So, to give you skinny on the event and both devices, based on what we know from leaks and info released to date, we've given a quick overview of what Sony could unveil.

Sony is hosting a "PlayStation Meeting" today at 3pm EST at the PlayStation Theater in New York, that means it will be live in the UK from 8pm and on the West Coast of America at midday.

Pocket-lint is hosting the livestream right here.

You can also watch it on the official PlayStation Twitch account.

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The PlayStation 4 Neo - also known as the PS4K or PS4.5 - is set to be officially unveiled during the event. The new console will be able to upscale current PS4 titles to 4K and support games with improved visual fidelity, which benefits the company's upcoming Playstation VR headset. In other words, it's basically a suped-up PlayStation 4, bringing upgraded hardware specs and better graphical performance.

Sony's console is also expected to feature an Ultra HD 4K Blu-ray player.

New PS4 games will work on the console, but they'll receive a boost in performance. No game will be exclusive to the new console though - at least that's the initial promise. Games will have an enhanced mode that will improve the graphics on the upgraded console, but they'll still work on normal PS4 consoles. The PS4 Neo is intended to sit alongside and complement the standard PS4.

Sony has already confirmed the console's existence. We're just waiting on the company to launch it.

At the moment there are no pricing details, but chances are this will be a costly upgrade. We already know a lot about PS4 Neo, thanks to a series of leaks as well as a direct confirmation from Sony's Andrew House, but check out Pocket-lint's rumour round-up for more details about it:

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The Wall Street Journal reported that we can expect two consoles to launch at Sony's New York event: the rumoured PS4 Neo and a new "standard", slimmer model. All attention had previously been on a future high-powered console, so no one expected a Slim model to be announced too. Sony has a history of revamping consoles, usually with a launch of the Slim with a lower price to attract those yet to jump on the PlayStation platform.

While the PS4 Neo is expected to offer 4K output and more beefed-up internals, the PS4 Slim is said to be a slimmer, sexier version of the existing PS4, with few further bells and whistles. It's a console upgrade that's becoming pretty standard in the industry - think of the PS3 Slim, and even the recently released Xbox One S, which has a smaller body and slightly improved features such as a built-in 4K UHD Blu-Ray player.

It even seems that the PS4 Slim leaked into some stores ahead of the official announcement.

It appeared on auction site Gumtree recently and on several hands-on and unboxing videos, including one from Lets Play Video Games. From those, we can see that the PS4 Slim is significantly slimmer than its predecessor and has most of the same connectors as the standard PS4. It has a power port, accessory port, HDMI out and Ethernet port. There's no details on pricing yet.

Some reports have suggested that the new PS4 Slim has the same capabilities as the existing PS4, rather than offering many upgrades, although game tech specialist Digital Foundry suggests there are improved internals for better game frame rates.

ZRZ (YouTube) via Engadgets.aolcdn

The PS4 Slim will also get a new controller, it is claimed. It won't vary too much from the DualShock controller of the PS4, but there's an additional light bar that runs through on the top of the controller. The existing light bar remains too, if several videos and images are to be believed, which will be essential for PS VR use. We suspect the new bar is simply for gamers to get visual cues from some games without having to flip the controller over.