Sony has announced that they're going to be releasing a new PS4 model this summer. Don't get too excited, though.

The changes made to the base PS4 model are slight. Sony has cut the console's power consumption by 8% for this redesign. Furthermore, the new model weighs 10% less. The HDD bay cover's surface is now matte to give the system "a more casual look." There's no mention of the console's size or shape being changed at all.

The new PS4's hard drive is still the standard 500GB. Sony separately announced a 1 GB PS4 is coming to Europe in July but the 1GB PS4 will come with the older hardware according to Eurogamer. I'd imagine North America will get a console with a larger hard drive soon as well to accommodate customers with shrinking hard drive space.

The price is the same too. The console will cost €399/$399 just as it did at launch in 2013. That's a bit surprising, considering the Xbox One's price has gone from $500 to $350 in the same time period. PlayStation UK boss Fergal Gara explained earlier this year that they've avoided price cuts because they're "dangerous":
Any price war in any sector in any market can be dangerous. If there is a race to zero, who wins from that? We are proud that we managed to launch at a very competitive price, and demand has held up very strongly for PS4.

Therefore, our RRP on day one is our RRP today. Yes, there are promotions that offer consumers better value from time-to-time, but it’s great that we managed to start at such a great price and it has held well.

Sony mentions that the new model will be available in both black and white. It's unclear whether that applies worldwide. Here in North America, the only current ways to get a white PS4 are to buy the limited edition Destiny bundle, import it from another country or find one second-hand.

The new PS4 model is due at the end of June in Japan. It will then arrive in North America, Europe and other Asian countries later on. No exact dates were provided by the company.

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