Sony Announces Slim PS3 - It Lives This September!

Kaz Hirai, head of all things PlayStation, announced that the long-rumored PlayStation 3 Slim will be in stores the first week of September. [UPDATED with official pic]

Hirai noted that it will be have the same features and function of the current PS3, with a 120 gb drive. It will be 33 percent smaller, 36 percent lighter.

The unit will cost $299 in the U.S., 299 euros, 29980 yen.

It was widely speculated among the gaming press that Sony would announce a slim version of the PlayStation 3. Recurring rumors of price drops and supposed spy shots fueled speculation for months.

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Sony's next major gaming press event is Tokyo Game Show, which begins in late September.