• Andrew House, President and Group CEO Sony Computer Entertainment Inc., holds up a Playstation 4, not the PlayStation NEO 4K

Andrew House, President and Group CEO Sony Computer Entertainment Inc., holds up a Playstation 4, not the PlayStation NEO 4K (Photo : Eric Thayer / Getty Images)

Sony has already announced that the PlayStation Neo exists and now reports are claiming that the upgraded PlayStation 4 will be releasing in 2016, adding weight to the October release date rumors.

Microsoft has also confirmed the existence of their Xbox Scorpio. Both of the PlayStation Neo and the Xbox Scorpio are aimed at 4K console gaming with the latter expected to release next year.

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Earlier reports have claimed that the new console from Sony will be releasing sometime in September or October after a French video games distributor got their investor notes leaked. They mentioned that the console will be launching in the third quarter of 2016.

EuroGamer's Digital Foundry now claims that Sony will release the PlayStation Neo this year, FirstPost has learned. The publication said that several unnamed sources have told them that the console will be launched in 2016 despite the device being absent in Sony's E3 2016 presentations.

AMD might have played a big part in the sudden upgrading of the current gen consoles. Both the Xbox Scorpio and the PlayStation Neo are rumored to feature the new AMD Polaris GPU architecture which is also used in their new Radeon RX 480, RX 470 and the RX 460 video cards for PC gamers.

Sony has not given any further information regarding the PlayStation Neo besides the fact that it already exists after several weeks of rumors popping up, VG247 reported. The Xbox Scorpio and the PlayStation Neo will both be able to run games at 4K resolution with smooth framerates.

The upgraded consoles will also be backwards compatible with the PlayStation 4 and Xbox One titles. They Neo would also be able to support the PlayStation VR and could run it with better visuals and performance.

Microsoft has not yet revealed their VR headset for the Xbox Scorpio. However, they could just use the Oculus Rift to go against the PlayStation Neo and the PlayStation VR.

Fans will have to wait for Sony's official announcement on the PlayStation Neo release date. They could expect it before October arrives if the earlier reports are accurate about the expected roll out of the upgraded PlayStation 4.