It looks like Sony will be revealing the PS4 Neo soon. Neo is not a full blown successor to the PS4 but will play games at 4K resolution and will also have various other features.
Microsoft revealed the Scorpio console which is scheduled to be launched in 2017 and it looks like Neo might come out this year. The console will be announced on 7th September in New York, Gameblog.fr reports. It remains to be seen if it will be a separate event like the when Sony announced the PS4.
Scorpio is projected to have twice the computational power of the Neo as Microsoft revealed that their console will be 6 teraflops. Sony’s console is projected to have 4 teraflops of power but nothing is certain yet and we will know soon when the console is announced.