Rumors the last few weeks had Sony revealing a 12GB PlayStation 3 with a price cut of $199.99, and that became true during Sony’s Gamescom Press Conference earlier today.

There isn’t anything special with the new bundle except that it has only 12GB of storage, probably a little less than that since it’s never the amount advertised on the box. While the $199 price point is appealing, consumers will have to upgrade the hard drive if they want the full PlayStation 3 experience, especially if you have, or get, PlayStation Plus.

In a way, Sony helps you get a PS3 for cheap, but you’ll have to pay the money you saved for getting it cheap, on a better hard drive. It’s either that, or you can put all that money on something better…like a PlayStation 4.

Not sure what Sony was thinking, and this was probably the one negative thing from Sony’s conference today.

If you really want a PlayStation 3 for $199, you can pick up your 12GB model as soon as today.

Source: PlayStation Blog