According to the British gaming site MCV, Sony may have a surprise for the PlayStation fans. No, it’s not about a new version of its PlayStation 3. MCV reports that Sony will revamp its PlayStation 2 with a new compact design and a price cut.

MCV claims that the new version has a built-in power supply and its price will be just $99, when the console will hit the markets.

The new console is set to be unviled in US and Europe in early 2008, MCV reports.

The PS2 is clearly the holder of all-times record: it has an installed base of more than 117 million worldwide, 44 million PS2s having been sold in North America alone. A further 10 million PlayStation 2 units are expected to be sold worldwide by the end of March 2008. More than 160 new games are expected in North America throughout the holidays and by the end of March 2008, including Guitar Hero Encore: Rock the 80s, Madden NFL 08, NBA '08, and Buzz, as well as a back catalogue of over 1,400 games.

During this weekend, Sony launched in the US the Ceramic White limited edition of PlayStation 2, bundled with SingStar Pop the second installment in the popular SingStar franchise.

The new limited edition Ceramic White PlayStation 2 features the same ultra-sleek design and functions of the current Charcoal Black and Satin Silver PlayStation 2 versions as well as the DVD and CD playback capabilities, digital surround sound, two memory card slots and an integrated Ethernet port for network gaming.

Also there were rumors that Microsoft is preparing a new version of its Xbox 360 gaming console for the next year CES.