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Sony officially announces $299 PS3 Slim

Sony PS3 Slim(Credit: Sony)

Updated coverage: PS3 Slim: Everything you need to know

Sony on Tuesday finally took the wraps off the much-rumored PS3 Slim and gave it the more affordable $299 price tag consumers have been clamoring for.

Sony Computer Entertainment CEO Kaz Hirai performed the unveiling at a press conference in Cologne, Germany, preceding the opening of the Gamescom Expo. He took the stage and announced the PS3 was "getting a new model" and that, indeed, it was called the PS3 Slim.

The Slim is hitting stores September 1 in North America and Europe and will cost $299 (or for those who live in regions, 299 euros or 29,980 yen). Hirai says the device has the same features and functions as the "old" PS3 but is 33 percent smaller, 36 percent lighter, and comes with a 120GB hard drive. (See photo comparison here).

Sony says that to achieve the new form factor, the internal design architecture of the new PS3 system has been completely redesigned--"from the main semiconductors and power supply unit to the cooling mechanism."

The PS3 Slim is powered by a new 45nm version of the Cell processor, which runs at the same speed as the 60nm processor in the "old" PS3 but is smaller and more energy efficient. According to company reps, power consumption for the Slim has also been cut to two-thirds, "helping to reduce fan noise," which is important.

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