Upgraded PS4 is codenamed 'NEO'

Earlier in the year, rumours were speculating that Sony would make a PS4.5, an upgraded version of the next gen console.
But today multiple sources confirmed that indeed Sony were working on an upgraded PS4, dubbed ‘NEO’. The price indicated it would be $399, but has not been confirmed by SONY yet. The NEO would have upgraded CPU, GPU and RAM. SONY are trying to achieve 4k image output for NEO, but games played do not have to be 4k, although the pre-NEO games developers could upgrade the game if they wanted to. The NEO looks to have a late September release date, unlike all the other PS’ which have been released in October