SCEA has announced a new 80GB PlayStation 3 console to be released in North America in August, packaged with a copy of the game MotorStorm, for a retail price of $599.
The current 60GB model will retail for USD $499, effective immediately.
"As we move into the next phase of PS3, it's important that we continue to evaluate our product line, offering consumers the technology and features that meet their growing needs for new forms of media and the way in which it is delivered," said Jack Tretton, president and CEO of SCEA.
"The introduction of the 80GB PS3, the new pricing for the current 60GB model, the availability of more than 100 new software titles this fiscal year and, finally, the expansion of services for PlayStation Network, will provide even more options for users and will help bring new consumers into the PS3 fold."
The price drop, denied last week by Sony, comes on the eve of the E3 Media & Business Summit. There was no immediate word of an 80GB model being released in Europe or Japan.
Sony also stated that between now the end of the fiscal year, the console will benefit from the release of 120 new first and third-party titles in the region.