Several weeks ago, we featured a story that the slim version of the Sony PS3 had been confirmed and in that story, we said to expect it in September on the Tokyo Game Show.

However, on Gamescom in Cologne, Germany – Sony decided to announce the launch on September 1st, and try to avoid further losses on the hardware side of business. According to the information that was released today, we can expect to see the Slim PS3 in the coming weeks.

Sony PlayStation 3 Slim on top of the old one.... we cannot demonstrate weight, though ;)
Official Sony PlayStation 3 Slim picture, feat PS3 Slim on top of the old one… but Sony didn’t show the depth ;)

This PS3 will indeed be thinner as well as narrower in size. Not only will this new PS3 be smaller, but it will also have a larger 120GB 2.5" HDD inside, larger than the current 80GB as PS3’s maximum offering. In addition to all that, all of the cost-cutting moves enabled a significant price reduction – PS3 Slim will be $100 cheaper, i.e. PlayStation 3 is finally getting into the $299 bracket.

In addition to being cheaper and having more hard drive space, the new PS3 will consume less power and generate less heat – courtesy of further die shrinks made on the STI’s Cell processor and nVidia’s RSX graphics processor. If you ask us, this has been a long needed update to the PS3 considering the unnaturally high price compared to their competitors. Before the new PS3’s land, expect to see the current PS3s to drop to the "$300 or less" price range in order to clear out stock, but who in their right mind would buy these for $300 when the newer ones have bigger HDDs and use less power and create less heat for the very same price.