With the release of PlayStation Vita, you'd think that Sony would give up on the PSP, right? Well, you'd be wrong. Having sold 71 million units worldwide, Sony announced a brand new budget model of the PSP at Gamescom, one that would be an "entry" alternative to the fancier, pricier Vita. Coming to Europe this Fall is a "E-1000" model for only €99. The only caveat? It drops wi-fi support.

Unlike the digital-only PSPgo, the new budget PSP will be compatible with "all" PSP games--provided you have a Windows-based PC or PlayStation 3. Without wi-fi, the system is incapable of getting downloadable games without connecting to one of these devices.

While PlayStation Network exclusives, such as PSone games and minis, may be harder to access on the wi-fi only device, it will be compatible with camera-based games, like EyePet and Invizimals. Given the system's low price point, these kid-friendly titles are likely to be the biggest draw for the redesigned handheld.

But will this redesigned system hit the US? "Not everything mentioned or shown today will necessarily apply to those of us in North America," SCEA's Jeff Rubenstein reminds us.