It was well ahead of the scheduled release of some of its closest rivals next year. Sony has also hinted that PS4 Pro will be available in the market on Nov. 10.

In a report by The Wall Street Journal, the PlayStation 4 Pro, which is previously dubbed as "Neo", has a starting price of $399.

The same report also quoted Sony, in a presentation at the PlayStation Theater in Times Square, New York, saying that the high-end model "Pro" comes with faster processor, enhanced graphics for 4K resolution games/videos and more storage.

The company also unveiled a smaller and more energy-efficient model of the PlayStation 4 that will be offered for sale at $299 on Sept. 15.

This slimmer console will serve as the replacement for the original 4th-gen PlayStation machine that debuted in November 2013. Sony hinted that the existing versions of the game console including PlayStation 4 Pro are designed to handle high dynamic range imaging or HDR while the older machines will be provided with online updates to gain the said ability.

The latest move from Sony is regarded as the company's strategy to further widen the PlayStation consoles' sales lead over Microsoft Corp.'s Xbox One and Nintendo Co.'s Wii U.

In addition to that, an MKM Partners analyst Erik Handler also agreed that the release of PlayStation 4 Pro this fall will provide Sony an edge over its rivals since the product becomes available just before the holiday season.

It was also reported that the release of two new PlayStation 4 models is Sony's way of reaching out to gamers who crave for the latest technology and to fans with limited budgets. This is because the buyers will no longer need to rebuild their own software libraries and they can conveniently connect with the company's latest devices its $399 virtual-reality headset which is expected to be available in the market in Oct. 13.

Finally, Sony aims that company will boost its revenues from selling software and offering paid subscription services like the PlayStation Plus responsible for providing access to exclusive demos, online-gaming networks, and other services to about 20.8 million members.