Apparently the 4890 is re-engineered to handle a higher voltage and therefore allow more headroom for clocking so it is not exactly the same GPU. However, I believe, if AMD/ATI wanted to they could lower voltage and sell the 4890 as a 4870 GPU instead.The 4870 is just a lower binned 4890 chip, so I'm guessing it's just a case of stock.
Dave Baumann Product Manager AMD - Guru3D interviewThe chip that powers the ATI Radeon HD 4890 is, however, a new one, with changes to the physical design to facilitate higher clock speeds. This is why the chip has the new designation (RV790).