Sony has announced via a press release this morning that the 500GB PS4 console will receive a price drop in Australia.

Originally priced at $549.95AUD, the console will now have a recommended retail price of $479.95AUD effective immediately.

Sony also used the opportunity to remind fans that they have a number of 1TB PS4 console bundles coming out this holiday season. These include limited edition packs with Star Wars Battlefront and Call of Duty: Black Ops III.