All of Sony’s console have received a redesign close to the end of their life cycles: the original PSX became the Ps1 and the bulky original Ps2 design was completely changed with the nice Ps2 Slim.
In this generation Sony went all out with redesign, presenting five different PsP versions and three Playstation3 revisions. While some have been made to actually improve on the console features, like the analogue stick on the PsP and breaking down issues of the first Ps3 versions, the latest designs serve as a way to make new players buy the console, featuring somewhat less than the other versions for a reduced price.
When the second Ps3 Slim was first rumored, players thought there was a mistake when noticing that one of the models would come with a measly 12 Gb of storage space: in the end, it was really true. The 12Gb Playstation 3 was introduced to make new players buy the console for a lower price, players who may not need too much storage space which is mostly required for downloaded content. Unfortunately, with many games requiring installation to play, players could be forced to buy a new HDD for their consoles.
Some days ago, some UK retailers have dropped the Ps3 Slim 12GB price consistently: HMV offered the console for only 119.99£, while other retailers like GAME offer the console for 125£. Both prices are lower than usual and the console quickly went out of stock. However not all is lost since pre-orders are open for the next stock and they all come with the reduced price.
Article from Gamersyndrome.com