The rumored PlayStation 4.5 or PS4K has not yet been confirmed by Sony, but according to a report from Eurogamer, the company is already handing out dev kits to game developers, allowing the site to properly leak out the rumored specs of the upgraded console. According to the report, the upgraded version is internally being referred to as NEO.

The name is a play on the "Matrix" trilogy of films and is likely taken from Sony's codename for the PlayStation VR, which was previously known only as "Morpheus," a character also from the films. 

According to reports from the Giant Bomb, the PlayStation NEO will come with the ability to support 4K resolution gaming and will have a faster processor, graphics card and RAM. This will allow games to run at a higher visual grade and still maintain a consistent frame rate.

Developers are also reportedly being instructed that any game launching for the PS4 starting this October should have a "Base Mode," which ensures the game can be played on a regular PS4 and a "NEO Mode," which will activate the PlayStation NEO's better hardware to make the game run more smoothly and support higher graphical prowess.

In comparison, the original PS4 has an 8-core Jaguar CPU clocking in at 1.6 GHz, an AMD GCN GPU running 18 CUs at 800 MHz, and 8GB GDDR5 memory reading at 176 GB per second. The NEO model will have an 8-core Jaguar CPU clocking in at 2.1 GHz, a newer AMD GCN GPU running 36 CUs at 911 MHz and 8GB GDDR5 memory reading at 218 GB per second.

As stated by IGN, Sony appears to be ensuring that the consumers with the base PS4 and the NEO will still get the same experience as they will share the same interface and store and that there will be no NEO-exclusive PS4 titles. The only real benefit gamers will get are the better graphics and smoother gameplay, which can be a big deal for many.