In making the 40GB model so cheap, Sony cut a few features. There is no multi-memory card slot, two less USB ports, and no backwards compatibility with PS2 games.
"As we approach our first PlayStation Christmas, it is satisfying to be able to offer UK consumers the choice of two PlayStation 3 packages both now representing remarkable value," commented Ray Maguire, MD of SCEUK.
"We have a brand new 40 GB machine that represents an excellent entry point into the world of high definition games and movies, and we have the fully featured 60GB machine being offered with two next-generation gaming experiences at a highly competitive price."
David Reeves, the president of Sony Europe noted as well, "The introduction of the new PS3 has been the result of extensive research into the entertainment needs and preferences of the next-generation PS3 owners."
Source:
GI.biz