Sony Computer Entertainment Europe has announced that its Firmware 2.40 update will go live on July 2nd. In one of the most substantial Firmware updates released on PS3 to date, 2.40 is set to provide a Trophy feature to rival Xbox 360 Achievements and an in-game XrossMediaBar (XMB).

Previously it was only possible to access the XMB without having a game loaded up, meaning that you couldn't access certain settings (e.g. your friends list) while playing a game. By tapping the PlayStation button (in the centre of the controller), it will now be possible to send and read messages as well as check which of your friends are online at the same time as playing a game.

The Trophy feature, on the other hand, is Sony's long awaited answer to Achievements on the Xbox 360. Completing selected tasks in games will unlock Gold, Silver, and Bronze Trophies (Platinum if you manage to collect all three). Get a better look at the gleaming awards with these screens.

Last year's Stardust HD (released over PSN) will be the first game to offer Trophies. Sony has also slated Buzz! Quiz TV, LittleBigPlanet, MotorStorm Pacific Rift, NBA 09, PAIN, PixelJunk Eden, Resistance 2, SOCOM: US Navy SEALs Confrontation, and Warhawk to join the Trophy presenting fun in the coming months.

As if that wasn't enough, Sony has also expanded the capacity of its friends list from 50 to 100.