A new report claims that Sony is looking to continue its dominance in the video game arena by making plans to release a PlayStation 4 upgrade next year that is capable of 4K gaming.

Usually, a video gaming company waits until 5 or 6 years after the release of a console to launch a new device. At times, these companies would release a smaller version of the same console, but never one that is more powerful halfway through the cycle.

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According to Kotaku, information about this new console was given to them by developers close to the situation. Apparently, the developers are calling this upgraded PlayStation 4 the PS4.5, and from what they have to say, it should come with an upgraded GPU and upgraded processor. These components are necessary for a system to output content at 4K.

The current system is capable of outputting 4K content in the form of videos and pictures, but not video games.

Upgrading a console is not unheard of, it is just not a common practice. We believe this move would make a lot of sense if done properly. TVs and computer monitors are quickly shifting into the realm of 4K, and as such, the video game systems should be able to keep up with changing times.

As it stands right now, it is clear that console makers are moving away from the traditional model of working with a single console for a decade without a significant upgrade. This is happening and happening fast because Sony is not the only console maker making these plans.

Bot too long ago, Microsoft's head of Xbox, Phil Spencer, hinted at the possibility of an upgraded Xbox One. Folks thought he meant a system where users would attach additional hardware and replace the old with new components, but we believe he was talking about a whole new version of the Xbox One.

If both companies are going this route, we might get more information at E3 2017 with a late 2017 release date. The pricing will definitely be higher than current models, and no doubt current models will be able to play all the latest video games just the same.

Games Industry has comfirmed that the cosole is real, and may be annouced before the release of PSVR.