All change for PS3 in Japan

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Price cuts, 40GB console, and a white PS3

Sony has revealed that it plans to cut the price of PS3 by ten percent and introduce a 40GB model. The move follows Sony's recent announcement of a cheaper PS3 being primed for launch over here at the end of this week.

The firm said it would lower the price of the 20GB model to 44,980 yen ($384 / %26pound;188) from 50,090 yen ($427 / %26pound;210) on October 17. Sony has not so far suggested a price for the 60 GB model, but it currently retails for around 60,000 yen ($512 / %26pound;251).

Sony will then launch a new PS3 (also available in white with a white pad) with a 40GB hard drive for 39,980 yen ($341 / %26pound;168) in Japan on November 11. The price of the 40GB model will undercut the 20GB system by 5,000 yen ($42 / %26pound;21), but it lacks some functions that the 20GB version offers, including PS2 backwards compatibility.

Prior to the announcement Reuters reported that shares in Sony closed up 0.5 percent.

There's been no word on whether the white PS3 will be released over here. But we've been on the blower to Sony and are awaiting its reply. You can thank Sony's Japanese website for the tiny pictures too...

Courtesy of CVG