SCEA boss Jack Tretton has just announced in the Shrine Auditorium, E3, that will cut the price of the 80Gb PlayStation 3 console, and that it will now cost the same as the present 40Gb model.

The functionality will be the same, but the system will boast the larger 80Gb HDD, Sony looking to boost their offering to gamers in the wake of recent cuts.

We've no word on the fate of the 40Gb SKU.

The console will be available in September for the new 399 USD price point. We've no news on a release or cut beyond North America, but we're hopeful.

By Luke Guttridge