Update: PlayStation Australia has confirmed the local pricing AUD$549.95 and release date – 15th of July.

PlayStation today confirmed that the PlayStation 4 will indeed be getting a hard drive upgrade, as we expected (although it was given no time at E3).

Announced via the EU PlayStation Blog, the 1TB console is dubbed the ‘Ultimate Player Edition’ and it’ll be coming to select European and PAL territories from the 15th of July. I’ve been unable to find any information on when this version of the PlayStation 4 will be coming to North America, but it’s fairly obvious that it’ll be coming sometime soon.

There was no mention of a price drop on the current 500GB PlayStation 4 models as well, so it’ll be interesting to see what Sony will do when these new models ship out. Local retailers will have all of the details on the pricing models for the new and old systems, so it shouldn’t be too long until we hear what’s happening.