Update: Sony has sent out a press release, confirming that the firmware will hit Network Update on July 2.

The firmware update PlayStation 3 owners across the globe have been waiting for is nearly here. In part one of a video walkthrough posted on the PlayStation Blog, PSN director Eric Lempel gives us a detailed preview of the impending 2.4 firmware update, highlighting the much requested in-game XMB access feature.

Firmware (v.2.40) Walkthrough Part 1: the XMB [PS Blog]

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