Sony Australia has confirmed that the 40GB PlayStation 3 will be phased out and replaced by an 80GB SKU, just as announced for North America yesterday.
The spokesperson couldn't give a release window or price, although hopefully the latter will remain the same as the current 40GB. He did, however, confirm that a Platinum range will be introduced, offering classic titles at a lower recommended retail price. This will reflect the Greatest Hits selection announced for North America. More details will be provided along with the 80GB SKU announcement, whenever that may be.
In addition, a video store will be made available in Australia at some point but probably not before 2009 due to "legal wrangling".
And finally, Sony will be hosting a PlayStation Australia Update and Software Event (PAUSE) later this month, so expect some details to trickle out from there.

Some how I don't see the 80gb being more expensive!
So is the 80GB backwards compatible or is it just exactly the same as the 40GB with a larger harddrive?
...Sucks how we have to wait till 2009 for the video store.
Will the 80GB PS3 come out in the UK?
I'm happy with my 60gb but I'm happy to see the 80gbs return and not seeing 1 HDD model being made one minute then it being cancelled the next.
@Shadow Dancer, the new 80 GB SKU will NOT be backwards compatible, I hear...
Sony showing love to Europe once again.
BC i sdead. Start accepting it now.
psn id: gingo... yeah so when is UK getting movie and tv show downloads? 2020? 2030? actually this is sony.....2050
Glad i got my PS3 on release day with all the bells and whistles. Really dont know why people are moaning about the lack of BC etc, if they wanted it that bad they should have got one when it was available not a year and a half down the line. Remeber you get what you pay for, i paid £125 more for my UK 60gb model, which is why i got the BC extra USB, media card reader and 60GB HD. Although i do feel Sony should do 2 SKU 1. a basic 60GB model to replace the 40 and a 120GB with all the extras inc BC, media card reader and extra USB's
Oh happy times, platinum is back
This 80gb SKU will have the same exact features as the 40gb (no bc, no flashcard slots) with just an increased HDD and a DS3 controller. It shouldn't cost anymore than the current model either...but they could lower the price by $50 instead! Been waiting for Platinum to be back!
As for the video store, I just hope it's cheaper than hiring a movie from Blockbuster!?!