Hardware and software updates are definitely the top of the list for the Playstation 4k, the Nintendo NX and whatever new update the Microsoft is planning for the XBox.
And now AMD is actively part of that speculation since its quarterly earnings release bragged about a new system on chip deal to design three custom chips. Both the Playstation4 and the Xbox One contain AMD hardware, but these new chips could also be destined for the Nintendo NX as well. The new chips are scheduled to be completed this fall, leading some fans to believe that they are meant for the Playstation4 update.