What do you know, Sony is prepping to lower the price on their PlayStation 3 console in Japan. Not only will the existing 20GB units see a 10 percent drop in price, but the 60GB SKU will also see a price reduction - not yet confirmed by how much, though. More than that, Sony is ready to ship the 40GB PS3 too (at an attractive price) in Japan.

Reuters reports: "Sony Corp said on Tuesday it would cut the price of its PlayStation 3 game console with a 20 gigabyte hard disk drive by 10 percent in Japan, and launch a new model, in a bid to better compete with Nintendo's hot-selling Wii." According to the original piece, "Sony said it would lower the price of the 20 gigabyte (GB) model to 44,980 yen ($384) from 49,980 yen on Oct. 17."

That's around US $350. Sounds good doesn't it? Better move all your stuff to Japan ASAP!

As for the 60 GB model of the PlayStation 3, Reuters claims it will start selling at 54,980 yen, even though "Sony has not so far suggested a price for the 60 GB model, but it currently retails for around 60,000 yen." Here's the piece, maybe you can make it out better than us.

The 40GB model is actually the big surprise here, with Sony announcing it would launch this most recent PlayStation 3 model at 39,980 yen in Japan on Nov. 11.

If you're the hardcore gamer waiting for the latest PSN addition, picking up on PSone and PS2 titles and so on, you might want to get the 60GB model, as this PS3 model provides the necessary storage space, four USB ports, a multi memory card port and of course two SIXAXIS wireless controllers. Above all, it is the only SKU that features backwards compatibility with PSone and PS2 games.

As for those who aren't so into getting the latest stuff (although it's hard to imagine), the 40GB PS3 seems like the better choice for them. This SKU features just two USB ports, one controller, no multi memory card port and no backwards compatibility. The HDMI on the other hand, is still there, with the Blu-ray player intact and ready for HD playback, while its HDD sports 40GB of storage space - enough even for veteran gamers.

Stay close for updates on exact price figures as far as the 60GB PS3 is concerned.