Thanks to Japan's Nikkan Kogyo, we now have a date for mass production of 45nm CELL : 2009. At a 40% reduction in power consumption, the shrunken Cell will generate less heat, which would help the PS3 to lose some of its piano-black bulk in a slim version. Cheaper production costs also means more $$ for Sony (or price drops for us). This could also lead to wider adoption of Cell technology in HD upscaling.
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