A hardware update to PlayStation VR is being prepared. The new version, model number CUH-ZVR2, features an updated design that enables the stereo headphone cables to be integrated with the VR headset and a slimmer, streamlined connection cable. There’s also an updated Processor Unit that supports HDR pass through, enabling users to enjoy HDR-compatible PS4 content on a TV without having to disconnect the Processor Unit in between the TV and the PS4 system. This function can be used only when the VR headset is turned off.
It’s kind of a strange announcement. Ultimately the hardware itself isn’t changing, it’s even going to stay the same price but Sony wont tell us when the new version will be on sale.
It looks like the main goal of the update is to support HDR pass through for those of you lucky enough to own an HDR compatible TV. The earbud integration is a nice move too, those things were a tangled nightmare in the original.
Those of you with an existing headset the new processing unit can NOT be used with your hardware. If HDR pass through means that much to you and you absolutely love PSVR then your only upgrade path is buying an entirely new bundle I’m afraid.
Source: PlayStation VR: The Ultimate FAQ – PlayStation.Blog