(CNN)—If you’re looking to pick-up the newest version of Sony’s PlayStation3, now’s the time to snag a bargain.

Sony announced it is slashing the prices immediately.

Two hundred and ninety-nine bucks will get you the 80 gigabyte version.

If the 160 gigabyte version is more your style, that one is going down to $399.

Sometimes good things do come to those who wait.

The video game software maker will launch a lighter and slimmer version of its 120gigabyte hard drive in early September. It’s priced at $299.

The company says the price drop is all about getting a jump on holiday sales.