The PlayStation 4 Pro was just announced, along with a new PlayStation 4 Slim, and they're both going on sale soon.
Some of the features include updated graphics and 4K support but neither will play back 4K blu rays which have recently come to market. It's a strange thing to leave out on the hardware side, and the folks at Microsoft are keen to point it out.
This is the rundown of the new Xbox One S, which is already available at retail. It supports 4K disks right out of the gate as well as HDR, something which will be patched into existing PS4's next week.
Saying they have the greatest games is a bit more difficult to agree with but the line up for the rest of 2016 is pretty promising. Mostly this is an excuse to try to rob some limelight from Sony, and that's a very natural thing to do.
Of course if you've already bought into one side or the other then this isn't going to change your mind but if you're looking for your first current gen console it's a pretty interesting time to be a consumer, especially if you're considering a new 4K TV in the near future.