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Aug 14, 2016 02:28 AM EDT

Sony has started sending invites to members of the press and gaming community for the upcoming PlayStation meeting in September 7 at 3:00 PM at the PlayStation Theater in New York. Sony will likely to reveal its revamped PlayStation 4 called Neo but speculations said they might not.

Though some sources would say that PlayStation 4 Neo (also known as "PS4.5" or "PS4K") will be revealed at the PlayStation Meeting event, seems like the launching is not likely to happen since the game console developer Sony has not yet released an official statement to the public regarding the launching. According to the website VICE Gaming, the sources chose to keep their identities because they do not have the right to speak for Sony in the public. The PlayStation Meeting will be live stream according to Sony representative to Polygon

It was revealed by Sony earlier this year that they are working an upgraded PS4 though the specifications left undisclosed. However, ARS Technica reported that PS4 Neo is better than its predecessor the original PS4. According to the same source, Neo's CPU is an 8 Jaguar Cores @ 2.1 GHz with an improved GPU of AMD GCN, 36 CUs @ 911 MHz and 8GB GDDR5 218 GB/s memory.

Creating games at 4k resolution is Neo's main purpose. Also, it will allow developer to create games at 1080p where textures are improved as well as in compatible with the existing original PS4 console. However, it is not yet confirmed whether or not a 4k Blu-Ray drive will be sport by Neo the same with Xbox One S of Microsoft.

As the competition in the gaming market becomes stiff, Sony is also set to launch its PlayStation VR headset in October while Microsoft will be launching Scorpio in the year 2017. Both have high-end hardware features for both games and video. 

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