More details have emerged concerning the much-rumoured PS4.5 (aka PS4K), including its name and some of its capabilities.
Now Giant Bomb claims to have learned more about it. The new console apparently goes by the codename 'Neo,' which is a clear Matrix reference, as well as a link to the PlayStation VR (which was code-named 'Morpheus').
Apparently, the Neo's CPU will come with a higher clock speed than the original PS4 (2.1GHz vs 1.6GHz), as well as an improved GPU (double the CUs and a higher clock speed) and higher bandwidth memory (218 GB/s vs 176 GB/s).
However, despite its all-round superior performance, no exclusive Neo games will be permitted by Sony. Rather, every game that takes advantage of the Neo's expanded capabilities will also be required to provide a 'Base Mode' that runs on the regular PS4.
Normal PS4 games running in 'Neo Mode,' then, will simply have a more stable frame rate and more visual polish than usual.
This even extends to VR - seemingly the whole reason for the Neo's existence. While performance will obviously be better on the Neo for Sony's virtual reality platform, all VR games must be made to run on the existing PS4 too.
As for 4K, it will indeed be supported by the Neo, but games won't be required to have native 4K support. The Neo will likely be able to upscale games to the 4K format, but Sony seems to be emphasising that this must not come at the expense of fluid frame rates.
See also: PlayStation VR hands-on
Otherwise, the experience of using the Neo will be identical to that of using the regular PS4. It'll have the same UI, the same access to the PSN Store, and will share the same network environment. This means that online multiplayer games won't separate out Neo and regular PS4 players.
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There's no news on pricing, but it seems as if the Neo will be offered alongside the existing PS4 rather than replacing it in shops.