Main image of article Sony's New PlayStation 3 Will Be a Tough Sell

Sony has lifted the lid on what might be its least exciting console-related grand unveiling to date – the redesigned PlayStation 3. Give credit where credit is due: The updated PlayStation is 25 percent slimmer than the previous version, and 50 percent slimmer than the portly first generation model. It looks good, but it's still a PlayStation 3 that rehashes an almost decade-old piece of gaming equipment. Meanwhile, Nintendo has a new console ready to roll, and Microsoft is putting the finishing touches on the Xbox 720. For Sony, this seems like a good way to lose a whole lot of money. The updated PlayStation 3 will come in two colors: Black and Classic White. The first Black model, with a 250 GB hard drive, was released September 25 and includes Uncharted 3: Drake’s Deception. A 500GB version will be available on October 30. The Classic White model comes only with the 250GB disk and won't be released until November 22. The machines are priced $269 and $299, depending on the hard drive. But these prices seem like premium price tags for a console that is rapidly approaching its expiry date. Personally, I don't see any of this as being a good move for Sony. The company will, in essence, is that Sony will be competing with itself. There's no shortage of fully functional second-hand models on the market, and their hard disks can easily be upgraded for those in search of more storage space. Sony would have been better off working out a way to deliver the last generation PlayStation 3 with a more competitive price tag. Here is what's going to happen from now. The Nintendo's Wii U will come out at more or less the same time as the revamped PlayStation 3. Though the products appeal to different audiences, the Wii is likely to eat up some of Sony’s sales. But the real problem for Sony is the Xbox 720, which is due out some time next year. That's going to present even loyal Sony buyers with something of a quandary. The cost of a PS 3 will represent a sizable portion of Microsoft’s next generation console's price – just as it does for the upcoming PlayStation 4. All things considered, a thinner PlayStation 3 seems like a particularly awful consolation prize.