Sony today confirmed that a 40GB model of the PlayStation 3, recently introduced in other territories, will be coming to North America as well. The 40GB PlayStation 3, which lacks backward compatibility with the PlayStation 2 and comes with two instead of four USB ports, will retail November 2 for $399. Sony also announced the 80GB model introduced in July, will receive a price cut. It will go from $599 to $499.In an interview with the Wall Street Journal, Sony chief Jack Tretton admitted that the $599 price point was probably too much for most consumers "based on traditional videogame pricing." He also acknowledged that the removal of backward compatibility is mostly to encourage people to purchase PlayStation 3 titles, and does not save Sony a significant amount of money.