According to reports from Engadget and Playstation Lifestyle a flash-based 12 GB PlayStation 3 system will soon be available in North America. Best of all, it retails for $199.
The 12 GB PS3 was released in Europe last October but it never made it to our shores. Engadget also obtained a picture of a 12GB PlayStation 3 in a Kmart stockroom somewhere in the United States (from an unknown source) with a sticker that reads: "Do not sell or display prior to 08/18/2013."
So if you've been holding out for a PS4 but dreading the price there is still a lot of life left in the PS3 system. Stay tuned for more information as it becomes available.