Sony's 40GB PS3 for Europe confirmed
SCEE closes its eyes and thinks of England
The reduced price, however, will come at the cost of a few features: the console will not include the multi-memory port and has two USB ports instead of four. Most notably, the system won't sport any backwards compatibility with PlayStation 2 games.
Sony said the latter feature was cut because of "reduced emphasis placed on this feature amongst later purchasers of PS3".
This is a wild guess, but it might have something to do with money too.
The price of existing 60GB PS3s will be reduced to €499 and "remain on sale until stocks run out", according to Nick Sharples of Sony Europe.
The new model and reduced prices will also make their way to Australia, the Middle East and Africa. Still no word on if price drops or new models will make their way to the colonies in time for the holidays.