A new Playstation will be unveiled next month according to reports

Sony's much hyped new Playstation 4 console - the Playstation 4 Neo is expected to be unveiled at a new event on September 7.

According to reports in Tech Crunch, the new console is expected to be unveiled at the "PlayStation Meeting" in New York during the first week of September. The invitation to the event says the Japanese tech company plans to "share details about the PlayStation business." (In an added twist, September 7 is also the expected date for the unveiling of the iPhone 7.) In late April, we gathered reports on the Playstation 4 Neo, a console which is expected to be a new souped up version of the Playstation 4, with 4k TV support and increased processing power. Sony confirmed of the Playstation 4 Neo's existence a week before E3 in June, with many expecting it to will compete with Microsoft's new souped up Xbox One, dubbed Project Scorpio, as both console makers look to take the next great leap into virtual reality gaming. Sony are also said to be working on a new slimmed down version of the current Playstation 4 console, that could be released sometime this autumn. Our advice? If you're planning to buy a new Playstation console, wait until after the Tokyo Game Show, which starts from September 15. We expect a few price cuts may be on the way. Read more: