Cut-price PS3 incoming?

 [intro]The web is ablaze with rumours of a cut-price PS3. Makes sense - but how many features will it lose[/intro] With the Xbox 360 and Nintend

[intro]The web is ablaze with rumours of a cut-price PS3. Makes sense - but how many features will it lose[/intro]

With the Xbox 360 and Nintendo Wii fighting out of the number one console slot, it seems only logical that Sony would consider cutting the price of its PlayStation 3  superconsole. But rumours suggest that the budget PS3 will only miss a couple of its superfeatures.

The AFP press agency quotes French papers as saying the new low-price PS3 will have a 40GB hard drive (down from 60GB), two USB slots (instead of four) and no memory card reader. These feature reductions don't strike us as huge cost savings, but they're rumoured to bring the price down to around £300, putting the PS3 on level pegging against the Xbox 360 Elite.

The good news is that the Blu-Ray drive and Wi-Fi are still said to be present and correct in the cheaper PS3 - giving it a serious edge over the Elite. And, let's face it, the PS3 needs an edge - reports suggest that the PS3 has sold close to 5m units worldwide, compared to over 10m each for the 360 and Wii. And the hype around the launch of Halo 3 is only going to hurt Sony.

Our journos are working hard to confirm these rumours - we'll bring you the total lowdown just as soon as we can.