The gaming world's worst kept secret of 2009 is finally out of the bag as Sony has announced a new model of PlayStation 3. The new slightly smaller PS3 Slim reaches stores in early September around the world with all of the same functionality as its big brother, albeit in a 33% smaller and 36% lighter unit that consumes 34% less power . A 120 GB hard drive is part of the deal, too. The price? $299, €299, and ¥29,980. Oh, and the existing model of 80 GB PS3? It also gets a price cut, dropping to the same prices as of tomorrow. The 160 GB HD model drops to $399. The PS3 has been long overdue for a price cut, so hopefully this will kickstart sales and renew interest in the platform.