According to a report in respected newspaper The Telegraph, Sony's long-rumoured slimline will start from around 260 GBP in the - with 40Gb and 80Gb models to be offered.

The system is expected to be officially unveiled at Sony's GamesCom bash on August 18th, when some kind of pricing change may also be offered.

For their part, The Telegraph seem to believe that this new Slim model will be the cheapest way to own the PS3, although the blogs are alive with trade-led chit-chat, suggesting the older SKUs might enjoy further discounting.

Solid details remain tantalisingly scant, then, but with having apparently ordered epic quantities ahead of an expected rush, while also reserving keynote time at the Tokyo Game Show for late September, the firm are clearly plotting major major news.

We'll be in Cologne to bring you all the latest.

By Luke Guttridge