This would be the second time Sony redesigns its most-successful console, after their 2004 re-release. It seems that the main technical difference between the the new PlayStation 2 and the current Slim version will be the built-in power supply featured by the former.

The new plans outline once more (if necessary) that the PlayStation 3 continues to be a failure from a financial point of view. Now Sony has to cut the losses and hopes that the older model has still enough life left in it to keep the Japanese boat afloat.

Recently, Sony also announced plans to release a new ceramic white PlayStation 2 model, priced at $150. Also, the company plans to release 160 new games through March 2008 and stated that the console be supported at least until 2010

The PlayStation 2 has sold around 120 million consoles worldwide, and is credited to have lured gamers into buying over two billion software titles. At present time the PS2 console retails for $129.

All in all, it’s rather sad: the PlayStation 3 was supposed to crush its Xbox 360 and Wii rivals and now is more or less on life-support, with the older and cheaper model set to defend the company’s market share.