PS4 Pro announced, launches Nov 10, 2016 for $399
Sony's mysterious PS4 Neo has been officially revealed as the PS4 Pro, and will be releasing this year on November 10, 2016. The console will cost $399USD/£349GBP, and will support 4K gaming and videos. Playstation VR will get a huge visual boost on the Pro, as well as older games getting "forward support" to allow them to be played in 4K resolution.
You can see the entire conference, and GBAtemp's roundup of the event here.