The PlayStation 3 comes third in line of the video gaming consoles is manufactured by Sony Computer Entertainment. PS3, as it is popularly called was launched in Japan on 11th November, 2006. Then it was launched in North America on November 17th , 2006. This was followed by its launch in Europe and Oceania in March 2007. There were 2 versions of PS3 that were available at the time of the launch. They were, a basic 20 GB hard drive model and another 60 GB hard drive model which had some additional features. The 20 GB model was, however, not launched in Europe and Oceania. There was a lot of violence among the buyers at the launch due to low availability of the product.

Today there are five versions of PlayStation 3 available. They differ from each other due to the size of their hard disk drives. They are also identified that way. These versions are the 20 GB version, 40 GB version, 60 GB version, 80 GB version and 160 GB version. All the above mentioned 5 versions of PS3 include one or two Sixaxis controllers, one DualShock 3 controller, a mini USB and USB cable, one Ethernet cable, one power cable, and one video or audio output. These models support the older versions of PS 3 like PS and PS2. However, with the launch of the newer versions, the earlier versions have lost popularity.
In this regard, it is to be noted that PlayStation 3 has PlayStation 2 as its immediate successor. It is further improved than its predecessor on many aspects.

PS3 provides online gaming through the PlayStation Network. So it does not have to depend on the game developers for providing online game play in their games.

Another major feature which this game console offers is the use of the high optical Blu – ray disc format as the primary medium. This is coupled with excellent multimedia capabilities. These are, precisely the 2 reasons why PS3 is different from its predecessors.

PlayStation 3 faces stiff competition in the market from Microsoft’s Xbox 360 and Nintendo Wii, which are also seventh generation gaming consoles just like PS3. Add to it, the drop in its sales due to recession. In this scenario the price cut offered by Sony has come as a breather. Sony has announced price slashes on almost all models of PlayStation 3 to boost its sales ahead of the holidays. So the time is just right for you to invest on a PS3 for a unique gaming experience.