Board Thread:General Discussion/@comment-4661596-20160806194931

I thought it might benefit the community if I made an announcement here about the future of Terraria and consoles, as it seems there are a lot of people wondering about updates for console.

It has been officially announced that XBOX360 and PS3 will NOT be getting version 1.3, and will stop at 1.2.4 with whatever bug fixes is needed for that version. PS Vita will also not be updated. This is indeed quite disappointing for owners of these consoles, but unfortunately due to the age of these systems and their capabilities, They simply cannot handle the growing needs of the game. Attempts were made to fit 1.3 onto the older consoles, but it didn't work.

The good news is, that they will be moving forward with XBOX One and PS4, as well as mobile! As long as your mobile device is current enough to run the updates, then you will be able to continue to play the latest mobile updates.

For more details, you can read the article on Terraria Community Forums 