The Sony PSP2 has arrived under the codename NGP. It has a 5-inch OLED touchscreen, dual analog sticks, front/rear cameras,a touch-sensitive panel on the back of the device used for control along with a quad-core CPU and GPU. (Updated)
Update: Turns out the internal magic of the PSP2 lies in its quad-core ARM Cortex A9 processor and quad-core PowerVR SGX534MP4+ GPU.
In addition to the above specs, the PSP2/NGP has 3G, Bluetooth and GPS, along with wi-fi, and Sony claims this thing is as powerful as a PS3. The 5-inch screen is roughly 4x higher resolution than what’s previously been featured in PSP devices (960×544). Kotaku says the screen is a beauty with impressive viewing angles.