It seems like the speculations about Sony's upgraded PlayStation 4 console are turning out to be true.

Kotaku spotted a statement from PlayStation head Andrew House that was shared by Financial Times, saying that the new console, which will be called PlayStation 4.5 Neo, will be sold alongside the standard PlayStation 4 upon release. The announcement came right before Sony's E3 2016 presentation this week.

Some of the details mentioned in the report claimed that the soon-to-be-released upgraded version of the PlayStation 4 can support 4K resolution upon release. According to House's prediction, all the upcoming games from different developers can also come up with games that can maximize the full potential of the high-end console. However, other details remain under wraps as of this time.

Aside from the 4K video support, earlier reports about the PlayStation 4.5 Neo claimed that the upcoming console will have improved hardware specs so it can provide enhanced graphical performance for better gaming experience. According to Trusted Reviews, the upcoming device is also expected to come up with an AMD GCN with 36 compute units running at 911MHz clock speed compared to the standard PlayStation 4 that only features 18 compute units running at 800MHz.

The new console is also reportedly coming out with 8GB of GDDR5 memory, which is almost 24 percent faster than the current PlayStation 4. Also, the device is reportedly perfect for the upcoming PlayStation VR that could support several highly anticipated games such as the "Battlezone," "Wayward Sky," as well as "Psychonaits in the Rhombus of Ruin."

There are no price details yet for the console, but it is expected to come out with a slightly higher price compared to the current standard PlayStation 4 unit. Other details and features are expected to be released as well.

PlayStation 4.5 Neo is expected to come out on the market sometime in 2017.