Following the announcement of 40 GB Playstation 3s for the UK, Sony Computer Entertainment Australia has also stated that they will be launching the same model on October 11. It will be going for a recommended retail price of AUS$ 699 or about US$ 629.

Like other PS3s, it works as a Blu-Ray Disc player and is still compatible with both Standard Definition and High Definition TVs up to 1080p. However, this new model is no longer backward compatible with PlayStation 2 titles and doesn't have a multi-memory card port. It also comes with two less USB 2.0 ports than older units.

Judging from the console's features, the 40 GB PlayStation 3 looks to to be geared towards people who watch movies regularly but also want the option to occasionally play a couple of games. We'll have to wait and see if this strategy drives up consumer interest for the product.

Thanks to Regan for the tip!