Sony has taken official wraps off of the A3500, which was leaked last week. The camera seems to simply be a rebadge of the current A3000 model with a lower caliber kit lens.
The 18-55mm f/3.5-5.6 lens in the A3000 kit offers image stabilization, while the 18-50mm f/4-5.6 kitted with the A3500 is slower (at f/4 on the wide end) and is not equipped with optical image stabilization.
The A3500 retails for $499AU only in Australia for the time being. Meanwhile the A3000 (with a better lens) remains a ridiculous bargain at $294 for its current sale price and is on backorder because of it. Even when it’s not on sale the A3000 retails for only $399.