In the words of former American politician Ron Paul, it’s happening. As expected, Sony took to a rather small stage at a swanky event in London moments ago to announce the PlayStation Vita Slim for the UK. The smaller, lighter model – which carries the memorable codename PCH-2000 – will launch on 7th February, at around £179.99 ($298).

The new unit – which released in Japan last year – is roughly 20 per cent slimmer and lighter than its bulkier counterpart, and comes with 1GB of on-board memory and a slightly beefier battery. It also drops the original device’s gorgeous OLED screen, in favour of a much cheaper LCD display. The former model will be phased out over the coming months, so you may want to get one now.

We’re still waiting for additional material to come through from the manufacturer, but rumours suggest that the new model will only be available in one colour: black. During the event, the company also announced a new memory card bundle, which will combine a 4GB storage stick with ten games, including Thomas Was Alone and Limbo.

Are you planning to pick up the new portable, or are you scrambling to your local retailer to snap up the original iteration? Push our buttons in the comments section below.

[via vg247.com, eurogamer.net, computerandvideogames.com]