The news apparently came about when Kotaku reported hearing about a PS4 upgrade from some developers who were briefed by Sony on the plans.
There’s currently no indication on when the upgraded PS4 will be sold or when it will even be ready but signs point at the device might come around in the next year or so.
A 4K capable PS4 would need more punchy graphical capabilities than what the current PS4 is capable of; and its been nicknamed the PS4.5 because it will be getting an upgraded processor and GPU in one shot.
However, this upgrade isn’t entirely unexpected especially since a lot of displays are transitioning over to 4K, plus mid-cycle upgrades would do the market a lot of good as opposed to the sometimes decade long upgrade cycles that consoles had prior to this.
Whenever it is that Sony will be cranking out their enhanced PS4, lets hope its not a terribly huge boost in price too.