Sony is currently holding an event in Tokyo which, if rumors hold true, could be the unveiling of the new PSP 2.

You can follow the event live here

Sony has announced Playstation Suite which allows you to play Playstation games through a PSP emulator and access Playstation content on Android devices. It is supposed to be available by the end of this year.

A new PSP repalcement has been announced with lots of social features. It has two analog sticks and a high resolution touch screen. (Photo from engadget)

The PSP features a 5 inch OLED screen with 960x544 resolution (About 4x the current PSP resolution). It has both 3G and WiFi and uses a new type of game media which looks kind of like a DS cartridge. (photo from engadget)

The device also features touchpads on both the front and the back and it still looks similar to the current PSP although maybe a bit bigger due to the larger screen. It also has social features to add more interaction to games. So far, game demos of Little Big Planet, Killzone!, Resistance and Uncharted have been shown and from the pictures, they look pretty amazing! That's probably thanks to the quad core processor. (photo from engadget)