Sony may have disappointed European PlayStation 3 fans by failing to announce a European launch date for the new 80GB PS3 earlier this week, but it's realised its mistake and confirmed that the model will arrive here next month.

David Reeves, President of Sony Computer Entertainment Europe (SCEE), said that the new 80GB PS3 will land in Europe on 27 August. He added that the console will cost £299 in the UK and €399 in the Euro zone.

Interestingly, the Euro price works out at £316, so for once Brits are getting the better deal. It's all down to the fluctuating exchange rate, which has already ensured Apple no longer needs to prune UK iTunes prices to bring them into line with the rest of Europe.

Reeves also said that various 80GB promotion bundles will be introduced between mid-September and the end of December, although he didn’t give anything away about their contents. He also confirmed that the 80GB model will replace the existing 40GB console.

It's not clear where the move leaves the 60GB PS3, which currently retails for around £350. It is for the chop too, or will Sony push its price down to below £299. Our money's on the 60GB machine going the way of the 40GB console.

Sony stated at the E3 gaming conference in Los Angeles, US earlier this week that the new 80GB model will boast "all of the features and functionality" of the current 40GB. This perhaps implies that the 80GB console will not pay PS2 games as the current model does.

Still, cash-strapped gamers will also be pleased to hear that Sony’s decided to launch a Platinum range of games on 1 August. Old or so-called classic titles will be re-released in new boxes for around £20 or €30.