This is no mere rumour, either. A new Federal Communications Commission (FCC) filing has come to light detailing two new PlayStation 4 models.
One of the new consoles comes with a 1TB hard drive - that's double the size of the current PS4 model.
Other than that handy storage expansion, the changes to the PS4 appear to be subtle - at least internally. The new models appear to draw less power than the first generation PS4, and they're also slightly lighter.
As Engadget points out, one major disappointment with these specifications is that they show the new PS4 model to lack 5GHz Wi-Fi support. As current PS4 owners living in particularly congested broadband areas will attest, this poses problems with getting a stable internet connection on the console.
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Sony's E3 2015 event will take place on June 15 at 9PM. Expect to see the second iteration of the PS4 unveiled then.