Sony today officially announced the PS3 Slim at GamesCom. As previously reported, the PS3 Slim will retail for $299.99 when it is launched during the first week of September. Sony says that the PS3 Slim will have all the functionality of the currently available PS3 models and will be available in a single 120GB SKU. The PS3 Slim is 32 percent smaller than the original and consumes 34% less power.