Australians will be able to be able to buy the slick new PlayStation Portable from October 1, but might be in for a shock regarding the price. The Go will cost US$250 in North America and 250 Euros in Europe, but Sony Computer Entertainment Australia has yet to decide on a price for the new handheld Down Under.

SCE Managing Director for Australia and New Zealand, Michael Ephraim, says the fluctuating dollar will play a big part in determining the price. "Well, you know against the Euro the (Australian) dollar has been as low as 50 cents, so you could almost be looking at doubling the Euro price…" he told GamesMaster.

"We don't think it will be (as high as) that, but it's a bit too early to tell. We need to look at the effects of the fluctuating dollar, it's been changing all of the place. We will make an announcement fairly soon on the Australian and New Zealand prices. We're just trying to get a sense of where (the dollar) is going to go."

The original PSP launched for $399 in Australia, and has since gone on to sell over 50 million units worldwide since 2004, including over 500,000 in Australia.

The new model does not have a disc drive or cartridge slot. Instead, users download games, music, videos and other applications onto the unit, which features 16GB of flash memory. Users can download content by using the unit’s built-in Wi-Fi support or connecting the console to PC or PS3.

The Go is also much smaller and lighter than its predecessor, and features a slide-out display panel like a mobile phone.