A new report out of The Hollywood Reporter says SCEA will be following Europe's lead, announcing a $399 40GB PS3 for November 2.
Citing unnamed industry sources who corroborated the November 2 launch date for the new model, the report said SCEA has been telling retailers to clear out existing PS3 inventory.
Last week, SCE Europe announced a 40GB PS3 at a lower price point than current offerings, as the company readies for another critical holiday season against hardware rivals Nintendo Wii and Xbox 360.