A special midnight launch ceremony and first day sales will be held at Sony's new LCX store in Causeway Bay. Gamers who buy the console at the launch event can look forward to receiving the PS3 DualShock3 controller, a vertical stand, one game, a four gigabyte USB thumb-drive, a PS T-Shirt and an umbrella.

From the main semiconductors and power supply unit to the cooling mechanism, the internal design of the new PS3 system has undergone a complete change, resulting in a much slimmer and lighter body.

Compared to the very first model, which has a 60GB hard drive, its thickness and weight have been trimmed by approximately a third. Power consumption has also been cut by two-thirds, helping to reduce fan noise. While it inherits the sleek curved design of the original model, the new product features a sleek design with textured surface finish, giving it a slim look.

It has all the same features and functions as the current models, such as the ability to play Blu-ray disc movies and games, and download from Sony's online gaming network. Its storage size has also been increased from 80GB to 120GB, making it possible to store more games, music, photos, videos and other content available through PlayStation Network.

The new model also comes with the Version 3.00 system software update, which allows you to quickly browse new items available in the PlayStation Store, as well as recently played games, directly on the XrossMediaBar (XMB).

For those who have been diligently saving their summer earnings, this is not a bad way to start spending your hard-earned money.