I'm betting it won't.If the slim doesn't do 4k media or upscaling like the Larry S
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Gut feeling says the PS4 Slim will be cheap($250) and the Neo will be $400 and have everything to justify it's cost.
"Why buy the Neo for 4K when this one does 4K too and it's cheaper?" will probably be the thought process of less informed buyers. 4K is 4K. They don't know all that HDR shyt or 4K rendering w/e.