Microsoft finally just solved everyone's biggest problem with the new Xbox

We're nearly two years into the life of Microsoft and Sony's new consoles, the Xbox One and PlayStation 4. At this point, there's one huge issue with both consoles: storage space.

That's right - the least exciting aspect of both consoles is also their biggest flaw.

Each console is equipped with 500GB of storage out of the box; the issue is that games are huge. How huge? Upwards of 60GB. It doesn't take a skilled mathematician to see how many games will fit on your system.

And unlike consoles of the past, you can't just insert the disk and play. You have to actually install each game on the hard drive. That of course includes games you download from Xbox online to play.

Microsoft announced plans on Tuesday to fix the flaw: a 1TB version of the Xbox One. Finally! It looks the same as the original Xbox One, only with more space. Here's a video of the console with some extra information, straight from Microsoft:

Yes, there's also a slightly altered version of the Xbox One gamepad. It now works with any headset that has a standard 1/8th-inch jack (the one on your headphones). That's pretty great too, as it means you don't have to buy the silly adapter Microsoft was otherwise selling for $25. And yes, the original Xbox One is now permanently less expensive at $350 (down from $400).

But most importantly, you can download more than 10 games without worrying about deleting older games and potentially re-downloading them down the line.

If that sounds like a problem only "hardcore gamers" face, Business Insider's Matt Johnston - a self-admitted "casual" game player - rebukes that notion with his own experience. After getting an Xbox One during the holiday season of 2014, he's already running up against storage constraints. He has to keep deleting older games in order to play new ones. Given the size of these games, re-downloading them is both cumbersome and time-intensive. Worse still, even games purchased on disc require massive installations - the issue isn't solved by just going analog.

Sony, meanwhile, has yet to introduce a PlayStation 4 with larger internal storage. That doesn't mean the company doesn't have one in the pipeline - an FCC registration popped up earlier this month. Unlike Microsoft, Sony has yet to announce the new version of the PlayStation 4, but we expect it'll become official next week during the game industry's annual trade show: E3.