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This is a Sticky that has tutorials on how to update the firmware of the PSP, and what the firmware of the PSP is. Also just so you know when a firmware update has happened, the current firmware will be in "~" in the title.

arrow How to update the firmware using "Network Update"
arrow How to update the firmware using a PC
arrow How to update the firmware using a UMD
arrow All other posts of the sticky are what the updates are

Required items
arrow A PSP (PlayStation Portable) system with battery pack and AC adaptor
arrow Memory Stick Duo? media with at least 14 MB of free space
arrow Internet access
One of thefollowing:
arrow A commercially available USB A<-> Mini-B (5-pin) cable
arrow A commercially available Memory Stick USB Reader/Writer*
arrow A PC equipped with a Memory Stick slot*
*If the slot on the device can handle only standard-size Memory Stick? media, a Memory Stick Duo Adaptor (model number MSAC-M2; a Sony product sold separately) is required.

Notices
arrow Do not remove the AC adaptor during the update.
arrow Do not turn off the system or remove the Memory Stick Duo media during the update.
If an update is canceled before completion, the system software may be damaged, requiring servicing to repair or exchange.

Download procedure
1. Prepare to save the update data on Memory Stick Duo media using one of the following methods:
Connect the PSP system to the PC using a commercially available USB cable
Connect a commercially available Memory Stick USB Reader/Writer to the PC
Use the Memory Stick slot on the PC

2. Create a folder for the update data on the Memory Stick Duo media.


Using your PC, create a folder named "PSP" on the Memory Stick Duo media. Within the "PSP" folder, create a folder named "GAME". Within the "GAME" folder, create a folder named "UPDATE". (Folder names are not case-sensitive.)

3. Download the update data and save it in the "UPDATE" folder created in step 2.

Notice
You must save the downloaded data as shown below. If you do not save in the correct location and with the filename shown below, the system will not recognize the update data.
arrow Location: Save in the "UPDATE" folder
arrow Filename: Save as filename "EBOOT.PBP"

Update procedure

Notice
Before starting the update, you must do the following:
arrow Check that the battery is fully charged.
arrow Connect the AC adaptor to the PSP system and plug it into an electrical outlet.

1. Insert the Memory Stick Duo media containing the update data in the PSP? system.

2. Start the update data.

Select under from the home menu, and then select (PSP Update). Press the button to start the update.



3. Confirm that the update was successful.

After the update has completed, select "System Settings" under from the home menu, and then select "System Information". If the System Software field displays the version number of the update, the update was successful.



Hint
After the update has successfully completed, you can delete the update data from the Memory Stick Duo media.

If the following screen is displayed when you attempt to start the update data, the system software in your system is already updated and you do not need to perform an update.


Sony Computer Entertainment Inc.

*Update Data can be found here* *Note you must agree to the user agreement first*

PSP Update Ver 1.15

The following updates will be added
- Revision to strengthen security.
Size of update 14 MB.

You need to have your AC adapter hooked up to your PSP during the installation of the update. Once it's done installing you can delete it from your mem stick.

PSP System Software Update Ver 2.00

The following updates will be added
-An Internet browser was added
-Go To was added as a feature under Unable to identify Vimeo video URL.

PSP System Software Update Ver 2.50

This Update includes the following changes:
-[LocationFree Player] has been added as a feature under [Network].
-[Auto-Select] and [Unicode (UTF- cool ] have been added as options to [Encoding] under [View] in the [Internet Brower] menu bar.
-[Text Size] and [Display Mode] settingns of the [Internet Browser] can now be saved
-The input history of online forms accessed through the [Internet Browser] can now be saved.
-Copyright-protected video can now be played under Unable to identify Vimeo video URL.

PSP System Software Update Ver 2.70

This Update includes the following changes:
-You can now play Macromedia Flash content under [Internet Browser].
*Note that you must adjust a setting to enable this feature. A connection to the internet is required to adjust the setting.
-[Connection Settings] has been added under [Settings] in [Internet Browser].
-You can now save content added under [RRSS Channel] on a Memory Stick.
-[Automatic] has been added as an option under [Rate] in [LocationFree Player].
-[UMD Video L/R Button] has been added under [Video Settings] in [Settings]. You can now disable the channel skip feature of the L/R buttons. (This applies to UMD VIDEO.)
-A new files extension has been added to playable AAC formats.(Finally an out for iTunes users)
-[Simplified Chinese] and {Traditional Chinese] have been added as option under [System Language] in [Settings]>[System Settings].
-[RSS Channel Settings] has been added under [Settings].
Size of update 19MB

You need to have your AC adapter hooked up to your PSP during the installation of the update. Once it's done installing you can delete it from your mem stick. Also at least 3 bars of battery life in order to perform update.