There have been rumors of a 4K capable PlayStation 4 for a while now. According to sources at Giant Bomb, the console is very much real, and is codenamed NEO. The main differences between the current PS4 and the NEO is the higher CPU and GPU clock speed and higher memory bandwidth. The other specifications are seemingly the same. The 8-core Jaguar CPU will be clocked ay 2.1GHz instead of 1.6GHz, the the AMD GPU gets double the compute units ay 36 at 911MHz, and the 8GB GDDR5 gets bandwidth boost from 176GB/s to 218GB/s. Sony requires the game developers to make every game for both, the...
Source: http://www.gsmarena.com/4k_playstation_4_codenamed_neo_is_very_much_real-news-17843.php