A cut price PlayStation 3 (PS3) with a smaller hard drive and no backwards compatibility with previous consoles goes on sale later this month.
The £299 PS3 has a 40-gigabyte hard disk and will be released in Europe, Middle East, Australia and New Zealand.
Sony has also slashed the price of the 60GB model from £425 to £349, as it hopes to ignite sales.
Ray Maguire, head of PlayStation UK, said he expected the PS3 user base to double by Christmas.
Lol, £299 still isnt cheap enough and no backwards compatibility is a real downer.
Can't see this improving sales much tbh, Sony may as well just face it, they have a LONG LONG way to go to catch up with the Wii and 360, they made a massive mistake going for technological superiority over games, fun and price, and it will be a long time before their PlayStation division recovers from it.
They thought because it had the PlayStation brand, it would sell out, but they have been shown by the public that its not as good as they thought.
BBC News Report 
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