click for high-res PS3 Slim gallery

We know, we're as shocked as you are! Sony has used the GamesCom stage in Cologne to announce the oh-so-tiny PS3 Slim. The good news is that the system sports both a slimmer form factor (33 percent smaller, 36 percent lighter and 34 percent less power use) a 120GB hard drive and the tidy price tag of $299 (or €299, £249, and ¥29,980). It boasts all the same features as the current PS3, which means still no backwards compatibility with your PS2 games.

If you've been holding off on buying a chunkier PS3 until the inevitable release of its slimmer little brother, your wait will finally end in September.

This article was originally published on Joystiq.

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