"This upcoming version has a new design with a significant change to its exterior. Our source claims that this new “slim” version uses a die-shrink treatment that reduces the size of the console, enough to validate a new design by Sony. It uses less voltage and therefore runs cooler. It’s also more lightweight because of it."

Additionally, this new model would try to ditch the awkward stand you have to balance the PS5 on when it lies on its side.

This is supposed to start being produced in Q2 2023 aiming for Q3 2023 release, so likely next holiday.

Source: https://www.reddit.com/r/GamingLeaksAndRumours/comments/yok27z/ps5_slim_to_be_released_q3_2023/

Source 2: https://www.forbes.com/sites/paultassi/2022/11/07/report-a-ps5-slim-may-be-coming-in-2023/?sh=57a6f68858df

Nice I love slim versionsI oddly Ps3 and Ps4 are my slims I never owned their 1st iterations.

I only had a PS3 Slim while my PS2 and PS4 were the original.

Guess PS5 will follow the trend of being a slim between odd versions assuming this rumor is true.

I forgot to add I had a PSX grey original with Dualshock 1, And Launch PS2 Original. My little Brother bought the PS One which was cute.PSX with original boomerang was sexy too ^_^

I never had a PS1.

So for me its....

PS2 Original
PS3 Slim
PS4 Original
PSP 1000 series

I bought the White PsP Go while my little brother bought the PsP 1000. But yes, Playstation makes great consoles.

Well, I'm unlikely to buy a PS5 before a slim model comes out, so I sure hope this is true. The current price of the console is way too high for what it has to offer me, and it doesn't help that the console doesn't exactly look good (although the controller is definitely far worse). I've always been in the Sony camp in regard to consoles, but I've been increasingly dissatisfied with Sony for a long while now...

Price wont change, I highly doubt it will go lower.

As for the looks, I can see it changing.

I dont mind the controller (well , except for the White one).

The console for sure is ugly as hell, I wish there was a black colored version, I prefer my hardware to be black....well except for the Series S - which actually looks nice lol

As long as Sony makes Uncharted 5 and doesn't ruin the story in The Last of Us this time, I was probably going to get a PS5 anyway at some point but this is great news if true. And, for the love of god, I hope they change-up the design of the console so that it looks better.

I think the price will go lower, but to original 500$. The PS5 got increase to 550 or 600 in some regions, I guess they will go back to 500 with Slim. The Slim model always got the price cut in the past, but who knows with the current inflation level. 

I might get PS5 Slim in the future, but right now the only game that makes me wanna buy one is FF16, so it depends whether it is gonna be good enough to buy a PS5 just for this single game.

As for previous PS consoles, I have PS2 Fat, but not the first iteration (SCPH-38XXX model). And PS4 Slim, one of the first it's revisions from 2017. So, going by this logic, I'll probably buy PS6 Fat next.

P.S. It's the easiest prediction one can make about Slim coming out in 2023, as it always was 3 years I think, at least for PS3 and PS4