Official word hasn't been forthcoming, but word on the street this morning has it that will cut the price of the for September 1st, heading off Sony's own price cut - and the launch of the Slim.

Rumour has it that the Premium model is on the way out the door, it's price point to be replaced by the Elite SKU, which could see the system for 299 USD or 199 GBP.

According to Walmart, this is definitely the plan, a new advert promoting the new pricing - and the previously mentioned dating.

"PS3 Slim's are topping the charts everywhere. Hope Microsoft is paying attention to the power of a price cut. Yes, that was a hint..." reads a teasing update from the Official magazine. More on all this conjecture soon.

Thanks VG247.

By Luke Guttridge