The U.K. trade publication MCV claims to have new information that Sony is preparing to once again redesign its ubiquitous PS2.

The current PS2 slim model, which retails for $129, will reportedly be tweaked so that it has a built-in power supply for the first time in the console's history. This would enable Sony to mass produce the machine even more economically and sell it at a price of just $99.

A number of analysts had suggested that Sony would drop the price on PS2 to $99 in time for this holiday season, but a new low price and a redesign could help to give the seven-year-old machine a nice lift early next year when sales typically lag following the holiday rush.

Sony recently confirmed that the PS2 has sold more than 120 million units worldwide, and to celebrate the console's seventh anniversary SCEA also introduced a special limited edition Ceramic White PS2 bundled with SingStar Pop and two USB microphones.

PS2 continues to sell reasonably well in the U.S. The console tends to sell over 200K units each month, easily outselling its newer, more advanced sibling – the PS3. According to the most recent sales data from the NPD, in September the PS2 sold 215K units compared to the PS3's 119K.