Sony Computer Entertainment America has unveiled a new version of its latest PlayStation 3 video game console that features enlarged hard disk drive, bundled Uncharted: Drake's Fortune video game as well as higher price tag. The new product may not become a bestseller, but it will for sure bring huge profit to SCEA.

“As PlayStation Network continues to evolve with our recently launched video delivery service and more exclusive games, PS3 owners are demanding more storage capacity. Consumers also are utilizing PS3 as an entertainment hub for their digital media, placing content such as their entire music collection on the hard drive. The 160GB PS3 system addresses this growing consumer demand in a compelling bundle that delivers significant value,” said Jack Tretton, president and chief exec of SCEA.

Slated to launch in November for $499.99, the 160GB PS3 system will come bundled with Uncharted: Drake's Fortune video game, a PlayStation Network voucher for Pain and a DualShock 3 wireless controller. The previously announced PlayStation 3 80GB system for $399 has started shipping to retailers, Sony said.

The new PlayStation 3 160GB will bring back the PS3 to $499 price-point in the USA, which, considering the fact that the PS3 is not rather inexpensive to manufacture, is likely to allow Sony to make profit on selling PlayStation 3 hardware.

Sony PlayStation 3 console is based on the Cell processor developed by IBM, Sony and Toshiba, the RSX graphics chip by Nvidia Corp., wireless network and Bluetooth connectivity and is equipped with Blu-ray optical disk drive. There are several versions of the consoles available around the world with different hard disk drives and variable compatibility with PlayStation 1/2 games.