There will be two versions of the Playstation 3.

The first version will cost $599 and will come with a 60GB hard drive. The second version will cost $499 and will come with a 20GB hard drive.

The PS3, which is based on the Cell processor, will play CDs, DVDs and include a Blu-ray drive. It also includes built-in Bluetooth and Wi-Fi connectivity, as well as ethernet compatibility. Further, it includes Dolby digital surround sound functionality and supports high-definition video up to 1080p.

The console also can run up to seven wireless controllers at once, and all PS3s will come with a built-in hard drive, either 60GB or 20GB.

Finally, it supports USB, Sony memory sticks, secure digital (SD) and CompactFlash.

In addition to announcing pricing, Sony also said the PS3 would hit store shelves in North America on Nov. 17, six days after its Japanese launch on Nov. 11.

Source: CNet News