Looks like Sony are adopting the Microsoft strategy.
It appears as though, much like how Microsoft announced the slimmer, smaller Xbox One S in addition to the upgraded Xbox One Scorpio, Sony too will be announcing a PS4 Slim in addition to the PS4 Neo. Apparently, the slimmer PS4 will be revealed by the Tokyo Game Show this year.
This news is coming to us courtesy of Takashi Mochizuki, the popular analyst who is reporting that the PS4 Slim will be released in addition to the PS4 Neo, meaning that he isn’t just mistaking Neo to be a slimmer model. If previous ‘Slim’ versions of PlayStation systems are anything to go by, then it will be a smaller, slimmer, more energy and cost efficient model of the PS4.
The PS4 Slim has not yet been officially confirmed, or even mentioned by Sony- but chances are that Sony will reveal it at the same time as the Neo, possibly as a replacement for the base PS4 model. The Neo has been officially confirmed by Sony, but nothing further is known about the system other than that it exists.