$399 80GB PS3 Replaces 40GB in September

A $399 model of the PlayStation 3 equipped with an 80GB hard drive will replace the current $399 40GB model in September, SCEA CEO Jack Tretton announced today.

Currently, the 80GB PlayStation 3 is bundled with a copy of Metal Gear Solid 4 for $499.

The new 80GB model will have "the same functionality as the 40GB," Tretton claimed.