Sony's Playstation 3 has shed some weight in preparation for the Christmas period with the Japanese electronics giant announcing a new iteration of the nearly six-year-old console.

Approximately half the size of the original design and still significantly smaller than the newer slim versions, the new model weighs in at 2.1kg and comes in two models. The more costly version ships with a 500GB hard-drive whilst the lower-end model has a mere 12GB of flash memory.

The 500GB model will launch in the UK on September 28, whilst the 12GB model will launch a couple of weeks later on October 12. At the same time as the 12GB model's release, a 250GB hard-drive for the machine will also be available, allowing the flash hard-drive model to be upgraded at a later date.

Pricing wise, the 500GB is set in Europe at €299.99 with a single bundled game whilst the 12GB model is a standalone package at €229.99. Prices specific for the UK are no longer set by Sony but are not expected to vary too much from these figures.

Examples given by Sony of bundled games include Assassin's Creed 3 and Wonderbook: Book of Spells. A FIFA 13 bundle will also be available exclusive to high street retailer Game.

Accompanying the launch of the extra-slim console is the PS3 Essentials range of budget games, set at an in-store price of €19.99 and €14.99 if available for download over the Playstation Network. The budget range includes several titles familiar to PS3 owners including Resistance Fall of Man, Infamous, Motorstorm, MAG, God of War 3 and LittleBigPlanet.

The new slimmer console will help Sony put up a fight against Nintendo, which aims to launch the Wii U at the end of November at a similar price point.