Sony reportedly has plans to build on a new version of the PlayStation 4 gaming console that will feature more powerful graphics and ultra-high resolution for 4K gaming. The Japanese conglomerate is already working with developers. It is unclear if current PS4 owners could upgrade their gaming system or if they would have to buy a brand new PS device.

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Developers who have been in talks with Sony report that "PS 4.5" will include an upgraded GPU, according to Kotaku. This will allow it to support 4K gaming (about 4x the size of 1080 pixels) and provide enough processing power for the PlayStation VR headset that will launch this autumn.

The official name of the new PS unit is uncertain although developers are referring to it as "PS 4.5." One developer has jokingly given it the moniker "PS4K."  

4K resolution would be much higher than the 1080p standard for PlayStation 4, Microsoft's Xbox One, and Nintendo's Wii U. PS4 can already output 4K images and videos but cannot support the high resolution for games.

Developers could also use a better GPU to add more effects and graphic tweaks to their titles.

A new and improved PS4 would also help the console to compete better with PCs in the virtual reality universe. In particular, it could match up better with other VR headsets including HTC Vive and Facebook's Oculus Rift.

News of the upgraded PS4 has been verified by several unofficial sources. However, it seems that Sony is just is just exploring the idea and the next version of PlayStation might not be launched this year.

Kotaku reports that at this year's Game Developers Conference (GDC) in San Francisco Sony met with developers about how the new gaming console's hardware would work. Although the PS4's price tag dropped last fall from $400 to $350 new hardware could justify a $400 price point for PS 4.5.

In related news Sony announced at GDC that the PlayStation VR headset will have a price of about $400, according to GameSpot. That will be $200 cheaper than HTC Vive and half the price of Oculus Rift.  

However, PlayStation Camera and Move controller must be bought separately for Sony's VR device, which would boost the total cost to about $500.

Here's a PS VR headset demo: