Sony has finally admitted that it will be releasing a 40GB PS3 in the US, GamesIndustry.biz is reporting, and it will sit on shop shelves on 2nd November and cost USD 400.
It will also coincide with a price cut for the existing 80GB model, which drops from USD 600 down to USD 500.
The announcement came from the mouth of Sony US boss Jack Tretton, and follows similar strategies already revealed in Europe and Japan.
The new 40GB unit drops backwards compatibility with PS2 titles, something Tretton justified by calling it a "secondary consideration", believing the PlayStation 3 should now focus on its own catalogue.
Last week saw the third highest sales week for the PlayStation 3 in the UK since launch, after the 40GB model and accompanying price cut for the 60GB unit entered the market.
It also prompted a boost in PS3 titles across the all formats chart, with many old faces re-entering in strong positions.
GamesIndustry.biz sits at the opposite end of the table to Mystic Meg, eagerly gobbling up her waffle-fiction and digesting it into solid fact.