Reports from CVG, Next-Gen and Sky News claim that "several" off-the-record sources have assured them that Sony is preparing to launch a stripped-down PlayStation 3 console for £299 in the imminent future.
All three claim Sony will release the revised system as a counterattack to Microsoft and the success it is expected to enjoy with this week's release of Halo 3 and the new Halo-themed Xbox 360.
Reports suggest the new model is being created by PlayStation 2 producer FoxConn and it will feature a 40Gb hard drive instead of the standard 60Gb drive, the PS3 USB ports will be missing, and it will not offer backwards compatibility.
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