Playstation 4 will be offered in a 1-terabyte console, Sony confirmed, according to CNet. 

The new Playstation 4 Ultimate Player Edition will have a 1 TB hard drive. Customers in select European countries and PAL territories, including Australia will be able to purchase the console starting July 15, Sony announced in a blog post Monday. PAL is the video standard used in most of the world except for North and South America, which use the NTSC video standard. Sony did not announce when the 1 TB Playstation 4 would arrive in the U.S. or other non-PAL areas.

According to Polygon, Sony has submitted a 1 TB console to the FCC for testing earlier this month, which means it is coming to the U.S.

The 1 TB Playstation 4 will follow Xbox One's June launch of a console with the same amount of storage. Sony and Microsoft are recognizing that digital and disc-based games are getting much larger in size and frequent video game players can easily run out of hard drive space if they have a big collection of games.

The PS4 is the sales leader by a significant margin compared to the Xbox One. Trying to catch up with PS4, the Xbox One delivered several exciting announcements at last week's Electronic Entertainment Expo. The company announced new games, a new Xbox One Elite Wireless Controller and the ability to play Xbox 360 games on the Xbox One.

Starting at the end of this month, an updated 500 GB PS4 will be introduced by Sony. This console will be released in Japan first, followed by other Asian countries and North America and Europe. It will weigh 10 percent less than the current console and it will use eight percent less power. The new, lighter 500 GB PS4 will sell for $399 in the U.S.

Sony says the new 500 GB PS4 will have a matte finish which will give it a "more casual look." It will be available in jet black or glacier white.