The PS3 Slim will launch on September 3 in Australia and retail for $499.95, a price drop of $200.
Also, all remaining stock of the current 80GB "phat" PS3 will also be reduced to the new price point of $499.95 from Monday, August 24.
So, if you really want a "phat", don't buy it this week!
UPDATE: Responding to the question of our price vs the US price raised in many of your comments, a Sony spokesperson said: "SCE Australia falls into the PAL markets and therefore our pricing is more closely aligned with European markets. As you pointed out [referring to my comment below] , our new price point is extremely competitive, particularly for the full entertainment offer that PS3 provides, soon to be complimented with the expanding features, content and services in the pipe line as announced at gamescom."