New budget-line PSP model coming to Europe only

During Sony's Gamescom 2011 press briefing today, newly named Sony Computer Entertainment Europe president and CEO Jim Ryan revealed that the company plans to continue support of the original PSP with a brand-new model of the handheld device.

Citing the success of its budget-priced PSP Essentials lineup, Ryan said this new PSP model will mimic that philosophy and come priced at an affordable €99 ($143). However, that price does not come without a few sacrifices; this new model will not carry the Wi-Fi capabilities of its PSP brethren. Cosmetically, the hardware looks slightly different, but it retains the same functionality of other PSP models.

No specific release date was given for the new PSP model. John Koller, director of hardware marketing at Sony Computer Entertainment America, also confirmed with GameSpot that the new PSP is a European-only release, adding "[Sony] is not launching that in North America." Sony expects to launch the PSP's successor, the PlayStation Vita, in Japan this year, with a Western rollout slated for early 2012.