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There are high chances to see an improved version of PS4 in some months. Kotaku planted the seeds of this story. They published the first rumor, Eurogamer confirmed it from a different source and Wall Street Journal added a new layer of confidence completing the round of rumors. Additionally, WSJ stated that PS4K would be presented before the release of PlayStation VR. This is before October.

New information has been posted on NeoGAF from a verified whistleblower about this PS4K:

– Price: currently sets to $399.99. Price could rise to $499.99 if they upgraded the CPU. Price never would be higher than $499.99.

– GPU is twice as powerful as the GPU included in the ordinary PS4 and much faster.

– Blu-ray 4K included.

– PS4K will upscale games that are not natively 4K to that resolution.

– Right now, there is no plan for any type of trade program for PS4 users, but it’s something that could change.

– There are developers working with PS4K dev kits. These developers are taking advantage of the higher PS4K specs in new games. New titles will work on PS4, but some sacrifices are being made to fit these products in the “old” PS4.

– Current games would not be upgraded to take advantage of PS4K, just some games could be updated for that purpose.

– Release: Q1 2017 (tentative).

– Titles available at launch:

PlayStation VR:

Eve Valkyrie
Robinson
GT Sport

PS4K:

Deep Down (It’s alive!)
GOW4 (God of War 4. The title was abbreviated, but most likely was a reference to the new God of War).

Thanks, NeoGAF.