Sony has unveiled two new models of the PS3 - offering significantly larger hard drives - at Gamescom in Cologne, Germany. Both of which will be arriving in time for Christmas.

Replacing the current 250GB model will be a larger 320GB model, to appease gamers and film downloaders alike. It will be available in an exclusive PlayStation Move bundle, for £284.88, that will come with a Move controller and a copy of Sports Champion, to show off your new motion sensitive accessory.

A cheaper 160GB model will replace the current 120GB offering, costing the same price of £249.99. However, it won't be offered in a bundled pack.

Sony says the announcement is in response to the rapid increase in the amount, and consumption of, downloadable content on its PlayStation Network ranging from games to films.

In America, the 320GB model will cost $399.99 and the 160GB $299.99.

Check out all the news from Gamescom 2010 on our dedicated homepage.