Arguably the best point and shoot on the market is getting an upgrade. Sony on Wednesday officially unveiled the RX100 IV, and it sports some impressive new features, including 960fps for super slow motion and 4K video. And, yet, it still maintains its diminutive size, keeping one of the RX100's best assets, portability, in tact. Unfortunately, the upgraded model will come at a significant cost.

First, let's talk about what's new. The RX100 IV comes with a 1.0 type stacked Exmor RS CMOS sensor, the ability to capture video at 960fps and an "ultra-fast Anti-Distortion Shutter, which offers a maximum speed of 1/32000 second. That's not a typo. For a point and shoot, having a shutter speed that quick opens up a whole host of new possibilities. Assuming the lighting is right, you'll be able to freeze practically any action.

Sony says that for 4K recording, the RX100 IV utilizes "full pixel readout without pixel binning," which ensures the footage displays minimal moire and jaggies. In simpler terms, you should get the sharpest video possible, and with a 16.8-megapixel sensor, you should get some beautiful images, too; the RX100 IV also sports a dual video recording functionality, so you'll be able to shoot images while you're recording 4K video simply by pressing the shutter button.

The good news is that all of these professional features are crammed into a compact body, which is one of the big reasons Sony's RX100 lineup became popular in the first place. Other specs include a ZEISS 24-70mm F1.8-F2.8 lens, XGA OLED Tru-Finder, and advanced autofocus technology that promises to detect a moving subject in as little as 0.09 seconds.

The bad news is that the RX100 IV will cost $1,000, which is a few hundred more than what the RX100 III is currently going for. Considering the technology packed inside, you get what you pay for. The higher cost will get you sharp 4K footage and some other great features, which are typically reserved for professional cameras.

You can pre-order the RX100 IV beginning June 17, though it's unclear when you'll be able to pick one up in-store.

In addition to today's Mark IV announcement, Sony also introduced the RX10 II, which essentially comes with the same exact specs as the Mark IV; the RX10 II just sports a 24-200mm F2.8 lens, and will retail for $1,300.