Sony has confirmed that it is to cut the price of the PlayStation 3 with immediate effect.
The 160GB model will now retail at €249 / $249 / ¥24,980 / £199 and the 320GB console for $299 in the US and £249 in the UK with European and Japanese equivalents yet to be decided.
To some surprise Sony also announced a new value model PSP during its press conference at Gamescom in Germany today, priced at €99, without WiFi support.
However, the company did not reveal anymore solid details on the European launch of its next handheld, the PlayStation Vita, which is currently scheduled for release in the first quarter of 2012, following a late 2011 release in Japan.
Sony's PlayStation branded 3D TV, first shown at E3 this year, will retail at €499 (£436) and come with two pairs of glasses.
Sony demoed a number of titles for the Vita system, including Nihilistic's Resistance: Burning Skies, Double 11's LittleBigPlanet, Reality Fighters from Novorama and new IP Escape Plan.
During the presentation, new Sony Europe CEO Jim Ryan reiterated that all PlayStation Vita games will be available to buy as downloads from the PlayStation Store. It will also support Skype and Foursquare services.
According to Michael Denny, Worldwide Studios boss for Europe, Sony is "confident we will have the strongest launch line up on a console ever," for Vita.
An full report on Sony's Gamescom press conference can be read here