Sony's worst-kept secret has finally been announced: the PlayStation 4 Slim.

The console will launch on September 16, and is available in two flavours: a 500GB model for NZ$448, and a 1TB model for NZ$528. Both are available for pre-order at Mighty Ape.

The console is slimmer, lighter, and more energy efficient than the old PS4, said president and global CEO of Sony Interactive Entertainment Andrew House.

"Our engineering and design teams collaborated to consolidate PS4’s high-performance technology into a smaller, more energy efficient form factor," he wrote on PS Blog.

"When comparing the new PS4 model to the current model, we’ve reduced volume by 30 percent, weight by 16 percent, and power consumption by 28 percent."

Sony has returned to the creative breadth and commercial success of the early days of PlayStation, he added.

The PlayStation 4 Slim replaces the standard model.

House also announced that every PlayStation 4 will be made high dynamic range (HDR) capable via an upcoming firmware upgrade.

Sony finally acknowledges PlayStation 4 Slim