Normally, console generations are airtight compartments. Sporadic backwards compatibility aside, consoles are sold as-is, and then iterated with only minor changes like power consumption, size and so forth, without touching performance.

Nintendo actually did something rather new with the New Nintendo 3DS, providing a second iteration of the 3DS with slightly increased power.

During an interview on 4Gamer, Sony Computer Entertainment Senior Vice President Masayasu Ito was asked his take on the possibility of a future release of a PS4 console with improved performance.

Ito-san immediately clarified that he has nothing specific to announce, but the adoption of the X86 architecture, made performance improvements in due time possible. Yet, Ito-san continued, the real question is whether those improvements should be made or not.

With the PS3 architecture and the Cell, it was impossible to expand the machine beyond the capacity of the hard disk. On the other hand, with the PS4 adopting a conventional X86 architecture, it’s easy to achieve flexible performance enhancements while using the same game assets.

That’s why providing a standard performance version of the PS4 and a high performance version of the console side-by-side is, according to Ito-san, an idea that might be considered.

It’s worth stressing on the fact that Ito-san was talking hypothetically, prompted by a specific question. So don’t go taking this as a confirmation a PS4.1 is actually in the works.

It’ll be interesting to see if home consoles manufacturers will consider this possibility in the future, but for now it remains within the realm of pure theory.

Source: http://www.4gamer.net/games/990/G999024/20151021121/  via dualshocker.com

In the original interview of 4gamer.net, they talked about running games at 30fps on stadard edition PS4 and 60fps on PS4.1. Do you think it'll take developer much efforts to achieve that? 

PS4K confirmted lol. Would be awesome to be honest. Imagine playing games like Bloodborne, Driveclub or Uncharted 4 in 4K or 60fps

I always suspected this generation is the first where stop gap iterations will actually be viable. Not Native 4k (although that will be possible+the marketing gimmick), but 1080p (or slightly higher)+60fps+Improved effects and graphics. Maybe a few games natively 4k/30fps (Indies, remasters etc).

I think this gen sony is the only looking at it, MS and Nintendo will both have rebanded systems out in the next 3 years.

I'm the first one to buy it. Let the "there is no stuttering and the framerate and input lag are perfectly fine" peasants have their cheap potato and give me some power to work with.

That wouldn't be a PS4 anymore if you want such performance.

Well I can certainly see them making a new model that can play 4K blurays. But I doubt that they would make changes to beef up specs to twice the standard I.e. 30 -> 60.

Would be interesting to see if they could take the mobile phone approach and offer new models every year with updated internals as long as the older models had a provision PR assurance that they would be able to play newer games

"That’s why providing a standard performance version of the PS4 and a high performance version of the console side-by-side is, according to Ito-san, an idea that might be considered."

It means something quite clearly, I don't think anyone is jumping to conclusions. Merely that its more likely this gen then it has been before.

Sounds interesting, but I wonder how will it be implemented? I don't think that many people will double-dip for a console just like they do for remasters. And there's no expansion port capable of enhancing performance a la N64. It is something interesting indeed, since I don't remember a modern console being released with enhanced performance, be it RAM or on GPU. Excluding the Nintendo 64.

I don't see it being 4K, but I could see many, many games on 60FPS.

4k is suddenly all the talk now lol?.

This just confirms more or less the playing field within the closed hw sector is becoming uneven.

Huh no one here is freaking out about the news here, can I ask what you mean with that?