Why Sony needs the PlayStation 4 ‘Neo’ — even if you hate it

The repeatedly rumored upgraded PlayStation 4 and Xbox One systems are a new spin on an old trick.

PlayStation 4 and Xbox One may both get major upgrades in the near future, according to recent reports from news sites Giant Bomb and The Verge. These new systems could save Sony’s and Microsoft’s profit margins and help it stave off competition from smartphones and tablets. And even if you hate the idea of a mid-cycle upgrade in processing power, analysts point out that this isn’t exactly a new idea, and you don’t exactly have a lot of alternatives if you only want to spend $300-to-$500 on a piece of hardware for gaming.