Sony have officially announced the new smaller PS3 console. It will retail in 1st September.
The console comes equipped with a 120GB removable hard disk, Wifi and 2 USB ports, however there won't be any IR or backwards compatibility for PS2 games. In USA it will retail at $299 which is $100 cheaper than the current console.
Source and more photos:
http://news.cnet.com/8301-17938_105-10312144-1.html
http://reviews.cnet.com/2300-10109_7...tag=mncol;thum