Sony is reportedly looking into raising the bar with an upgraded iteration of the PS4. This is more than just a redesign, it would include increased power and new features making it a bigger set up then the current one. According to Kotaku,  developers are saying that the “Playstation 4.5” is currently is in the works, and features a new GPU that would support 4K resolution for gaming.
It seems Sony is being very quiet about it, since they have not answered about the pricing of it. E3 is around the corner and something could pop up soon.
Source

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