TOKYO—Sony Corp. plans to introduce a new PlayStation 4 standard model alongside a high-end version next month, people familiar with the matter said, in an effort to maintain demand for the best-selling videogame console.

With the release of the two models, Sony hopes to attract hard-core fans and more casual users to its videogame platform, analysts said. The company has been trying to build a community of users so that it can earn consistent revenue from subscriptions and software downloads.

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