A new, cheaper PlayStation 3 will be released in Japan next Thursday, August 28, Sony has announced.

The new 500GB Charcoal Black CECH-4300C model will be available for 25,980 yen + tax (£151), almost 3,000 yen (£17) cheaper than the existing model.

The current 250GB/500GB black and 250GB white PS3 models will also be discontinued, with the final shipments due to arrive in Japan later this month.

But besides the price, it isn't yet clear how the new model PS3 differs to the existing 'super slim' model, or whether it will ever make its way out of Japan.

VideoGamer.com has contacted SCEE to ask whether it has any plans to bring the model to Europe or reduce the price of PS3.

Source: scei.co.jp (via gematsu.com)