next-generation PlayStation Portable. It's actually codenamed NGP and will revolve around five key concepts: Revolutionary User Interface, Social Connectivity, Location-based Entertainment, Converging Real and Virtual (augmented) Reality. It will be compatible with the PlayStation Suite and is backwards-compatible with downloadable PSP games and content from Sony's PlayStation Store.
Specs include a quad-core ARM Cortex-A9 processor, 5-inch touchscreen OLED display with 960 x 544 resolution, dual analog sticks (not nubs as on the current generation), 3G, WiFi, GPS, a rear-mounted touchpad, the same accelerometer / gyroscope motion sensing as in the PlayStation Move, an electronic compass, and cameras on both the front and back. Available this holiday season. Wait... what?!