The sleek machine is around a third lighter, a third slimmer and uses a third less power than the original, said Kaz Hirai of the firm.
Speaking at the Games Com conference in Cologne, Germany, he said the console would hit shops in early September.
It will also be cheaper than the original, costing ?249.99 in the UK, around ?50 cheaper than the original. It will cost $299 in the US, 299 euros in Europe and 29980 yen in Japan. Like the older, fatter version of the console, the new machine will still have a 120GB hard drive.
Official picture stolen from here.