MCV is reporting that a new PlayStation 2 model will hit the US in 2008 for $99. This new model will allegedly sport a more "compact" design and have a "built-in power supply." Although we've known MCV to get overly excited in reporting things, they're reporting this as fact. Sony "refused to comment."
According to MCV if the product is introduced in the UK it would be £75 or lower. The PS2 celebrated its seventh birthday last week and Sony has said they expect the console to last ten years.