Sony has announced its next generation portable entertainment system, codenamed NGP. NGP will make its debut at the end of the year 2011.

Some of its features include:

• Stunning OLED and Revolutionary User Interface – The NGP will offer a multi-touch 5-inch organic light emitting display (OLED) as the front display.
• Super Oval Design and Dual Analog Sticks.
• LiveArea- Every game title for NGP will be provided with a space called “LiveArea™” where users can share the fun and excitement with other players.
• Near – location-based services on NGP as part of the basic features utilizing PlayStation Network.
• New Game Medium – a small flash memory based card, dedicated for NGP software titles.
• 2 cameras – NGP will also come equipped with two cameras on its front and rear, as well as three motion sensors, gyroscope, accelerometer and a electronic compass.

Click here for the official Press Release