The annual Electronic Entertainment Expo (E3)has been a go-to event for tech companies to showcase their latest or upcoming products. This year's E3 is no exception. Headlining the conference is rumors about the possible debut of a new PlayStation hardware.

So far, details about the successor to the PlayStation 4 have been hazy. Some rumors claim that the console will be called PlayStation 4.5, while there are some claiming that the hardware is currently in development under the codename PlayStation Neo.

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The PlayStation 4 is only in its third year, but some might say, especially in the current trend in technology, that the console is well in its twilight years. Moreover, advancements in video game development and graphics design has pushed the PlayStation 4 to its limits, hence the call for a newer and more power console.

Rumors about the successor to the PlayStation 4 first surfaced on tech media outlet Kotaku claiming that Sony is working on the new PlayStation 4.5. Kotaku's claims that Sony is already informing video game developers about the new hardware giving the studios time to adjust and prepare.

Kotaku's report, although dismissed by some as just a rumor, was backed by The Wall Street Journal, which also reported that Sony is indeed working on the successor to the PlayStation 4.

Sony has kept silent about its new console. However, there are rumors that the new hardware will be powerful enough to handle not only AAA titles but also virtual reality contents.

The PlayStation 4.5 is expected to have an upgraded 2.1GHz processor, and its graphics processor will have 36 compute units clocked at 911MHz. The console will have 8GB of DDR5 RAM with transfer speeds of up to 218 GB/second.

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