Like the early portion of the year, the late summer-early fall part of the year is a time for tech companies to hold press events main evented by a device that has been speculation for some time. September 7th will be the date Sony shows off its upgraded PlayStation4—referred to as PlayStation Neo and PlayStation 4.5.
It was expected that Sony—and Microsoft—would eventually release upgraded versions of their latest gaming consoles. Sony has done so since the original PlayStation was released. The Neo could be seen as the PlayStation 4 that Sony wanted to put given there is somewhat of an expected time for consoles to be released. While the PlayStation 4 is a technological jump from the PlayStation 3, Neo is rumored to be a significant jump with processing power and 4K.
The press conference takes place at the PlayStation Theatre in New York. You can expect the important details like price and release date to be given then although given that Sony is holding the press event next month, the holiday shopping season seems like a good guess.