Ever since leaks about a more powerful PlayStation 4, codenamed the PS4 Neo, hit the web, fans have been eager to learn more. The console was a no-show at E3 this summer, but Sony did at least confirm the machine's existence after numerous console specs leaked online.

Now, at long last, Sony appears ready to unveil the new PS4 hardware to the world. According to VICE Gaming and the Gameblog, Sony will show off the new, more powerful PS4 at a Sept. 7 event in New York City. The event is said to be similar to the event used to initially reveal the original PS4 (which you can re-watch below).

Other than that, details about the event are still scarce. VICE Gaming reports that the event will be a "technical showcase" for the new console, which is said to be capable of displaying games in 4K resolution. The site also reports that, as of a few weeks ago, Sony was still finalizing what exactly would be shown at the event.

If the reports turn out to be true, it means fans have a little under a month until they can see all of which the new console's capabilities consist. Spec leaks online show that the console is expected to have an upgraded CPU, GPU and more RAM, though Sony has yet to officially comment on the specifics of the PS4 Neo's capabilities.

Even though Sony is unveiling a new console, it's not the PlayStation 5. The Neo is designed to complement the original PS4, and all PS4 games in the future are said to be playable on both the original PS4 and the new machine. Leaked documents, however, do reveal that Sony will be making sure developers take advantage of the Neo's increased power. That means PS4 games will look and run better on the Neo thanks to extra optimization by developers, but the new console won't be required.

The reveal of the PS4 Neo will come after Microsoft's announcement of Project Scorpio earlier this summer. Project Scorpio is the codename for an upgraded Xbox One described by Microsoft as the most powerful gaming console ever. That console will be launching in 2017, and like the PS4 Neo, it will feature improved visuals but won't be required to play Xbox One games in the future. It's currently unclear when the PS4 Neo is expected to launch, though previous reports seemed to indicate it could release later this year. An official release date will likely come out of Sony's Sept. 7 event.