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New report reveals PS4.5 codename and specs

A new report found on Eurogamer has revealed the specs for the PS4K, aka the PS4.According to Eurogamer's sources, the upgraded PlayStation 4 -- which was first revealed back in March -- is internally codenamed PlayStation NEO.

Smaller Xbox One model reportedly coming in 2016, more powerful 'Scorpio' in 2017

According to Kotaku, sources claim a smaller, cheaper Xbox One will be releasing later this year with a 2 TB hard drive.This type of console release is certainly not out of the ordinary for Microsoft, as the Xbox 360 got the same treatment.