At Sony's E3 keynote speech earlier this week, it revealed that a new 80GB PS3, offered at the same price as the current 40GB PS3, would be launched in the US later this year, but as per usual, European gamers were kept in the dark as to whether the new model would be launched over here.

SCEE president David Reeves has now stepped forward to confirm that the 80GB PS3, which is essentially the same as the 40GB model, but with a bigger HDD, will be launched in Europe on 27th August, 2008 and will be priced at £299.

“It will be a simultaneous launch across all PAL territories, and reach Russia two weeks later, due to compliance issues,” said Reeves

“Promotional bundles will arrive between mid-September and mid-December at various prices."

"The 40GB model will be replaced by 80GB. Don’t ask if we’re going to go down in price on 40GB – the answer is no.”

It's expected that the 40GB will be out of stock before the 80GB model launches.