According to sources close to Giant Bomb, the specs have been revealed for the mythical PlayStation 4K. First off is word that it's not called PlayStation 4K or PlayStation 4.5. Instead, Sony is internally referring to the possible new device as NEO.

In addition to this name of NEO, the sources provided some new specs of what to expect from the updated piece of hardware.

The sources say that starting in October, every PS4 game is required to ship with two modes. One will be a "Base Mode" for the original PS4 and the other will be a "NEO Mode" for those with the new hardware. The NEO Mode will include a more stable framerate with better visual quality. NEO will also reportedly support 4K image output.

Thankfully, there will be no NEO exclusive games. Sony has also specified to developers that they cannot give NEO owners any exclusive gameplay options or content. However, this could still allow some games to feature 4-player local co-op on the base PS4 while allowing for 8-player local co-op on NEO. Online modes will keep the same player counts. However, just how much of an advantage online NEO players will have with smoother framerates and better visual fidelity when pitted against OG PS4 players remains to be seen.

While the games coming out by October need to be NEO ready, that does not mean NEO will be out in October. However, it can probably be safely assumed that Sony will announce NEO at E3 and push for a Holiday 2016 release or early 2017 release.