Sony denies 'big bang' PS3 announcement

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The 40GB PS3 is rumoured to come without backwards compatibility and will cost over £100 less than the current 60GB model in the UK

Sony Computer Entertainment Europe (SCEE) has emphatically denied that it has any plans to call a press conference for next week. According to a French gaming website earlier this week, Sony had chosen next Friday to make a big announcement but this now looks very unlikely.

To go alongside this denial by Sony Computer Entertainment Europe, an Italian gaming magazine has said that the rumoured 40GB cheap PS3 is launching in Italy next Wednesday.

There's usually no smoke without fire, but at the moment the only way to separate fact from fiction is to see the raw flames before our eyes.