The Vita TV has slots for both Vita games and memory cards, allowing users to play games on their tellies with a DualShock 3. It'll support 1,300 games, including Vita, PSP, and other PlayStation offerings. Like the Vita, Vita TV will also support PS4 Remote Play through a future system update. Vita TV also enables streaming services such as Hulu.
The PlayStation Vita TV will cost 9,954 yen including tax when it launches November 14 in Japan, that converting to around $100. There'll also be a bundle that includes a DualShock 3 controller and 8 GB Vita memory card for 14,994 yen after tax, or around $150.
Update: Sony Computer Entertainment's press release provides some specs on Sony's littlest new device. The Vita TV comes in at 6.5cm by 10.5cm, and weighs just 110 grams. It connects to the TV via HDMI, supports Wi-Fi, and has an internal memory card of 1GB. Also, Vita TV can connect to two DualShocks at once, this functionality applied with PSOne games in mind. Full specs are below the break.
Update 2: Our pals at Engadget have a great eyes-on gallery with Vita TV.