More and more sources have confirmed that Sony is, indeed, working on something big for its PlayStation 4 console; tagged as the PS4.5 or PS4K, an upgraded version of PS4, according to several reports, is coming this year.

In its report, the Country Caller said that PlayStation 4.5 boasts of a better GPU and would make it twice as powerful and runs at a higher clock speed than the current PlayStation 4. What's even more exciting for gamers is that the more powerful PS4.5, according to sources, will be keeping the price point at $399, which means the current PlayStation 4 console will be having a price cut, which is approximately to a discounted price of $299.

Moreover, the PlayStation 4.5 is said to be having a 4K Blu-ray playback capability, which means that the system will be very likely to have a HDMI 2.0a. The new console is also said to be able to upscale games to 4K.

Euro Gamer described the PlayStation 4.5 as "the real thing," speculating that the PS4K may be an "evolved PlayStation 4." The report, however, noted that PS4k "has to walk a tightrope" and offer something new to the core enthusiasts, something that has propelled the original PlayStation 4 to its success and its 40 million-strong userbase.

"Fundamentally, what new gameplay experiences can a revised console offer? At what point do you stop supporting the older PlayStation 4?" Euro Gamer wrote.

"We can perhaps see the case for an 'elite' version of a games machine-a love-letter to the hardest of the hardcore, with enhanced performance and visuals on the same games. But it reeks of niche appeal-and some might say that the PC already does a better job of servicing this need. When and if refreshed console hardware is officially revealed, it's going to need one hell of a killer app," it added.