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(Pocket-lint) - Gaming accessory company Nyko has unveiled a solution for those wanting to upgrade their PlayStation 4's hard drive storage capacity but wants more than 1TB for little outlay.

Pocket-lint has recently posted a detailed feature on how to upgrade your existing 500GB PS4 hard drive for a version with greater capacity, but unless you are willing to splash the cash, you are really limited to doubling the space.

That's because, while Sony makes the upgrade process fairly simple, the PS4 can only accept 2.5-inch laptop-style drives with a height of no more than 9.5mm. Most of the cheaper 2TB 2.5-inch drives are larger than that and won't fit.

The Nyko Data Bank therefore eliminates that problem, by effectively being a drive caddy that sits on top of the PS4 which has a much larger slot. Indeed, it even elminates the need for the more expensive 2.5-inch drives and supports 3.5-inch drives instead.

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READ: How to upgrade your PS4 hard drive to 1TB or more for less than £60

You can pick up a 2TB 3.5-inch drive for around £60 - the same amount as a 1TB 2.5-inch equivalent. Or, if you want to spend a little more, you can even get a 4TB drive these days for around £100.

And as the Nyko Data Bank draws its power from the console's AC adaptor rather than USB, it might even prove to be more of an effective solution to the Xbox One's USB storage option. This way you won't have to forsake one of the USB ports.

READ: How to upgrade your Xbox One storage by 2TB and more: That’s up to 100 games

As the device isn't coming out until "the first half" of this year, price isn't yet known for sure, but it is believed to be between $30 - $40 (around £25).

nyko ps4 data bank lets you swap out the hard drive for cheaper larger 3 5 inch drives image 2

Nyko will also release a QWERTY keyboard accessory, the Type Pad, for the DualShock 4 around the same time.

Writing by Rik Henderson. Originally published on 7 January 2015.