Sony Announces the Playstation NGP Release Date and New Titles!

 The very first details about the release of the PSP follow-up, the PlayStation NGP, have traveled half-way around the world from Tokyo, straight into your brain. After weeks and months of speculation, Sony announced to a group of eager gamers that the PSPs successor, the NGP (short for "Next Generation Portable") will appear on store shelves during the holiday season of 2011.

Key NGP features:

• Multi-touch 5-inch organic light emitting display (OLED) as the front display
• Multi-touch pad on the rear of the device
• Dual analog sticks
• Two cameras (front and rear)
• Software titles on small, dedicated flash memory-based cards
• Three motion sensors, gyroscope, accelerometer and electronic compass
• Wi-Fi and 3G network connectivity
• PlayStation Network access, including ““LiveArea™”, “Near” and “Activity” log features Trophy Support
• NGP will be able to play PSP titles, minis, PS one classics, video and comics from the PlayStation Store.

Low level APIs will allow the Sony NGP to perform about a generation beyond smart phones with comparable specs.
Sony is referring to the new user-interface for the NGP as LiveArea which will support the PlayStation Store, Trophies, friends, web browers, messaging and serve as a launching pad for other applications. The "Near" program will use the internal GPS to track your location and movement to provide information on what gamers are playing in your area. Recognizable franchises heading for the new platform include LittleBigPlanet, Uncharted, Killzone, Resistance, Hot Shots Golf and WipEout. New titles include Little Deviants, Broken, Reality Fighters and Gravity Daze.
Now, the technical specs:

CPU	ARM® Cortex™-A9 core (4 core)
GPU	SGX543MP4+
External Dimensions	Approx. 182.0 x 18.6 x 83.5mm (width x height x depth) (tentative, excludes largest projection)
Screen (Touch screen)	5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED Multi touch screen (capacitive type)
Rear touch pad	Multi touch pad (capacitive type)
Cameras	Front camera, Rear camera
Sound	Built-in stereo speakers Built-in microphone
Sensors	Six-axis motion sensing system (three-axis gyroscope, three-axis accelerometer), Three-axis electronic compass
Location	Built-in GPS Wi-Fi location service support
Keys / Switches	PS button Power button Directional buttons (Up/Down/Right/Left) Action buttons (Triangle, Circle, Cross, Square) Shoulder buttons (Right/Left) Right stick, Left stick START button, SELECT button Volume buttons (+/-)
Wireless communications	Mobile network connectivity (3G) IEEE 802.11b/g/n (n = 1×1) (Wi-Fi) (Infrastructure mode/Ad-hoc mode) Bluetooth® 2.1+EDR （A2DP/AVRCP/HSP）

It is still early in the game; I understand if you have inquiries that are not addressed here.
Details such as release date, price, and more will be announced in due course. I will keep you updated to the best of my ability.

Full hardware gallery: http://bit.ly/eouiPm