Sony has released a new PS3 system firmware update. The new PS3 firmware version 4.75 is now available for download via PSN. You can also download it from the web, although you must note that the firmware files are different for different regions (North America | Europe) across the globe. The update is mandatory, so you must install it if you wish to continue playing online.
The PS3 firmware 4.75 doesn’t come with an extensive changelog. In fact, The stability of the operation of the system software has been improved.