Sony is poised to reenter the console wars with a new battle strategy. The company unveiled its sleeker, more streamlined version of the PS3. It looks strikingly modern, but the best part is the price. It is a more budget friendly $299. The PS3 slim will be 36 percent smaller, and is said to use 34 percent less energy. This will greatly help the fledgling PlayStation label compete with its much more successful competition: Microsoft’s Xbox 360, and the Nintendo Wii.

Sony has been struggling to keep up ever since it released it’s original version of the PS3 in November 2006. On paper, the console seemed like it was set to take over the market. It was originally offered with either a 20 or 60 GB hard drive, and featured a Blu-ray player. Gamers were itching to purchase Sony’s latest creation, until they saw how much they would be expected to pay. The console’s retail price at launch was $499 for the 20 GB model, and the 60 GB was a staggering $599. What made this all the more unbelievable was the fact that Sony was losing an estimated $250 on each console sold.

The jury is still out on whether the price cut, and the new look, will have what it takes to save the Sony PlayStation from falling into obscurity. Gamers are fickle. Betray them once, and they’ll turn to Microsoft and Nintendo for life. Watch for the Slim 120 GB PS3 to hit stores on September 1, 2009.

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