Sony has unveiled two new versions of the PlayStation 4 console in an unprecedented move that points to console makers' increasing focus on software and services.
The slimmer PS4 and PS4 Pro were unveiled at an event on Wednesday. It comes just three years after the original PS4 was released and marks a major departure from the typically longer refresh cycles for consoles. Microsoft has also released a mid-cycle refresh console called the Xbox One S and is planning a higher spec product next year named "Project Scorpio".
Gaming has been a major success for Sony and one that is becoming increasingly important to the business as areas such as smartphones struggle. The PlayStation 4 is the top-selling console with an install base of over 40 million.
"Consoles are not only seeing pressure just from mobile gaming, but also PC gaming," George Jijiashvili, analyst at CCS Insight, told CNBC by phone on Thursday.
"So the requirements for the latest games in terms of graphics and processors are growing exponentially and in order to deliver the latest gaming experiences, Microsoft and Sony have felt they needed to keep up with the latest developments and deliver hardware that can deliver this content."