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News Summary: Sony plans slimmer PlayStation 3

The Associated Press

CONSOLE UPDATE: Sony Corp. is introducing a smaller, slimmer and lighter version of the PlayStation 3 in time for the holiday shopping season. The global rollout starts Sept. 25 in North America.

CONTEXT: The Japanese electronics giant is struggling as its other businesses suffer from competition with Apple Inc.'s iPhone and cheaper Asian rivals. The company is banking on games to help steer a turnaround.

DETAILS: The new PlayStation 3 is half the size of the original model, introduced in 2006. It also offers more hard-drive memory. Prices start at $269 in North America.