While it is already confirmed that an upgraded PS4 console is coming out soon, speculations suggest that the upgrades will be lacking when compared to the refreshed Xbox One.

According to Gamespot, reports have mentioned how the upcoming new Xbox One console, nicknamed "Scorpio" will have four times the processing power of the current-gen Microsoft console platform. Specifically, while the new PS4 Neo will work on 4.1 teraflops, the modified Xbox One will run at an astounding 6 teraflops.

This doesn't mean, though, that the upgraded PS4.5 console will be lagging behind the new Xbox console. According to Alphr, the new Neo upgrade will have its own new features and improvements over the current-gen PS4 console. The PS4 Neo is said to feature enriched 4K content. In addition, it is said that the PS4 Neo is powerful enough to load optimized VR content, as it switches to AMD chips.

Meanwhile, as for its release date, it is said that while the new upgraded console may figure prominently at the upcoming 2016 E3 trade show, the PS4.5 console will not show up until the end of the year. According to VR World, the new, upgraded PS4 console may hit the shelves before the holidays. As for its announcement, the industry follower said that it is expected of the PS4.5 aka Neo to be formally revealed in September, at the 2016 Tokyo Game Show.

While unconfirmed, this timetable is certainly plausible, given that it will be around during period that Sony said it will be launching the PlayStation VR.

However, although Sony will be adding a new console platform to its lineup, games will still be compatible to the current-gen PS4 console. In addition, PS4 Neo-supported games that will be released from October onwards will also be compatible with the PS4 base model.