The more powerful version of the PlayStation 4, currently dubbed PlayStation 4K or PlayStation 4.5, will be announced shortly before the release of PlayStation VR in October, according to a report in The Wall Street Journal. The publication's sources indicate that Sony will not stop production of the original PS4 upon release of the new, more powerful version, while also noting that "it is likely" both consoles would share the same software catalogue.

Sony's goal with the console, according to those same sources, is to compete with high-end, PC-based virtual reality experiences such as the Oculus Rift and HTC Vive, which offer a higher graphical fidelity than the current PS4. While it's possible that a more powerful PS4 will be able to increase the sharpness and graphical effects of PS VR games, the headset itself sports a mere 1920×1080 OLED display, equating to 960×1080 per eye, compared to the higher-definition 2160×1200 screens of the Rift and Vive.

For those not into interested in PS VR, the increased processing power of the new PS4 will allow it to output UHD (4K) resolution, say the WSJ's sources. However, it's not yet clear whether that will only apply to new games or whether older software will be upscaled too.

The Wall Street Journal report follows numerous industry rumblings regarding a new PS4, which originated with a Kotaku article last week. The article was corroborated by Digital Foundry, which "independently established that [the PlayStation 4K] is real and that Sony's R&D labs have prototype devices." That same article speculated on what hardware the new PS4K might sport thanks to the hardware roadmap of chipmaker AMD, which provides the CPU and GPU for the existing PS4.

Notably, AMD is set to move its GPU architecture from a 28nm process to a much smaller 14nm FinFET process. The company is also due to release its new Zen CPU architecture sometime in October, which will also be based on a 14nm process. Should AMD create a new APU (a combination of GPU and CPU on the same die) for Sony based on those new architectures, the chip would theoretically be around twice as powerful as the current PS4 chip at the same size and power consumption.

However, given the low-level access to the hardware PS4 developers have, introducing a new CPU and GPU architecture, even if it remains x86-based, could introduce compatibility issues for older games.

While reports of a new PS4 remain mere speculation until confirmed by Sony—it is declining to comment on the rumours—that so many publications have independently run stories on the topic is a strong indication that a PS4K is indeed on its way.

The implications for PS VR are notable too. It is rather unlikely that Sony would make the new PS4 a requirement for PS VR, but those after the absolute best experience will want the new hardware. This will increase the PS VR's total cost substantially—although, it will probably remain much cheaper than an Oculus Rift and high-end gaming PC—as well as split the developer base between two different sets of hardware. At such an early stage in its development, that's not ideal for consumer and developer adoption of VR.