If you’ve been dying to have a Sony PlayStation 3 but were turned off by its expensive price tag, listen and read closely. Sony announced the upcoming release of a slimmer version of the PS3. The slim part is not the sweetest part of the news; it’s the price tag that comes with it. The slimmer PS3 console will be available for $299. It’s a very sweet deal if you ask me. The new Sony PS3 $299 version will be on the shelves starting September 1. Its release is actually very well-timed. If you will notice, the holiday season is just around the corner.

The PS3 slim version will have 120GB of storage and will operate using PS3 firmware 3.0 version. The internal design architecture has been redesigned, accounting for its slim form. According to Sony, the new version is 33 percent smaller and 36 lighter than the other PS3s available in the market today.

There’s more from Sony, not just the slim $299 version. The company is also slashing the prices of the existing PS3 consoles. The 80GB will now be available for $299 while the 160GB model will have a $399 price tag. With $100 slashed off their original price, it’s very likely that more people would be able to afford them. With these new prices and new console design, Sony is hoping to catch up with the sales made by the Nintendo Wii and Xbox 360.

So, I’m guessing, the console wars are raging again!