Undoubtedly the game consoles of today are highly advanced. They offer amazing visual graphics in games and even massive storage to store your games. But all these features come with a hefty price tag attached which make modern game consoles less accessible than old ones.
Take the PlayStation 3, for example, and compare it with PlayStation 1. When the PS1 came out, a lot of people bought it. I remember many of my friends owning and enjoying a PS1 and buying countless games and playing them all. But with the PS3, not as many people went with the device simply because of its expensive price.
Sony now plans to revise its PS3 console and it appears that the price is going to be revised as well.
The new PlayStation 3 is going to be a slimmer version of the current PS 3. And it is rumored that the price of the new console would be around $150.

This is great news for consumers since a $150 price tag is far more affordable for more people than the current price of PS3.
However with a price cut that big, the console will definitely be compromising on something. I do not think the performance will be compromised. That only leaves behind storage.
Apparently the new console will have only 16 GB of onboard storage. Considering that new games come out on Blu-Ray, the 16 GB storage capacity might not be enough for many game players.
For Sony however, creating a console in that price range would be idea. It would be able to directly compete with the 4GB Xbox 360 from Microsoft.
I expect more news on the PS3 to be revealed by Sony on the Gamescom event which shall occur next month.
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