Sony announced today at the Games Convention in Germany a new 160GB PS3. The new PS3 will launch in PAL markets on October 31st for €449 and will include additional PlayStation network content bundled with the console.

All features of the console are the same save increase in storage capacity. Sony says the increased 160GB of storage is perfect for those who like to download movies and video games from the PlayStation network as well as those who like to store music and photos on the PS3.

The 160GB PS3 will also ship with the new Dualshock 3 wireless controller. Sony will also be offering a limited edition Drake: Uncharted Fortune bundle using the new 160GB PS3 in America for $499. The bundle also includes a free download of the game PAIN. The limited edition bundle will go on sale in America in November.

Via Sony