General Info About It. Won't hurt to post it, for people who don't search.

Pricing:

$249/ €249/¥24,980 (WiFi)
$299/€299/¥29,980 (3G/WiFi) 3G officially provided by AT&T for US. Most likely Rogers in Canada (guessing)



Release in the US will be late holiday season of 2011.

First Sony gaming console with cross-game chat


PS®Vita
Overview:
The World is in Play
Take on opponents across the globe while you take a bus across town. Control every movement with the tap of a finger or blow up enemy fighters soaring through your living room. Some of your favorite PS3 brands, and some new titles developed just for PlayStation®Vita let you discover a gaming experience with no limits. The world is in play.

Brand new ways to play
Transform your world. With front and rear cameras, you can turn kitchen counters into a fight ring or office boardrooms into a battlefield. Augmented Reality (AR) technology for PlayStation®Vita brings your physical world into the PlayStation®world.
Interact with the world. Wi-Fi and 3G* capabilities pinpoint the location of nearby opponents, send friends on treasure hunts, and keep the world updated on your rank.
Non-stop action. Literally. Keep the intensity up at home or on the go. With Wi-Fi or 3G connectivity, you can pick up games right where you left off, even from your PS3™ system.
*Connectivity subject to Wi-Fi availability and 3G coverage limitations.

Biggest and best games
PlayStation®Vita transforms the way you experience your favorites titles. Through technologies like the front multitouch screen and the rear multitouch pad, motion-sensors, and augmented reality, PS Vita brings the biggest and best games to life in a whole new way. Coupled with the rich graphics and new social gaming features play your favorite adventures with an all-new spin.

Stunning 5-inch multitouch OLED display with rear touch pad and dual analog sticks
Sleek new form. Modeled after the classic dual-stick control, PlayStation®Vita reinvents gaming experiences with its ultra-slim, pocket-ready form.
Beauty in the details. Experience rich, cinema-like content in this highest definition, compact 5-inch OLED display.
Complete your control. Front multitouch screen and rear touch pad pick up your every motion and put all your fingers to good use.
Always On, Connected by AT&T
AT&T. The nation's fastest mobile broadband network gets you connected. Whether It's gaming, sharing videos and photos with friends, watching a movie, surfing the Web, or listening to the latest music on your cool new wireless device or laptop computer, AT&T is delivering the network to help you meet your ever-growing mobile needs.
Features:
Put gaming’s latest innovations to the test
It’s not often that a mobile gaming device sets the standard for an entire industry. Then again, it’s not often that something like the PlayStation®Vita arrives. With a full set of unique new features, that both complement and enhance the gaming experience, you are now free to take the world you play in, anywhere you go.

PS Vita Features
Features like front and back multitouch screens, motion sensors and Six Axis sensors

Chat on the fly
Chat on the fly in the midst of multiplayer action or while watching videos

Multitouch Display
Catch every detail with the PlayStation®Vita system’s stunning, multitouch 5-inch OLED display

Augmented Reality
Merge the real world and the game world with front and rear camera enabled augmented reality

Always on
Take on your friends — or the whole world — anywhere, anytime with Wi-Fi or always-on 3G

Dual analog sticks
Feel the full-on intensity of First Person Shooters with Dual Analog Sticks

PS3™ Integration
Enjoy continuous, uninterrupted gameplay between your PS3™ and PlayStation®Vita systems with compatible titles
Games & Media:
Biggest and best games
The biggest and best titles for the PS3 have gone mobile, taking nothing away in the process. In fact, we’ve added a few new tricks; in Uncharted: Golden Abyss, you can adjust your view simply by titling the screen in the direction Drake is looking. Or Little Big Planet where you can plot your moves through the new touch screen technology. Or, select a club in Hot Shots Golf just by tapping your intended target on-screen. All kinds of new features show up in all your favorite games, all fitting nicely in your back pocket.
Design:
Classically inspired. Futuristically engineered.
The latest product design coupled with quintessential PlayStation® features all come together in this flash forward device. Built around a brilliant 5-inch display, every curve was designed for the best grip in mobile gaming. And the unit is ultra-slim and easy-to-carry for a deep & rich level of gaming.
Tech Specs:
Re-engineering the experience
A closer look at all the technical specs behind the bold new innovation.
PlayStation®Vita innovation has jumped years ahead of the industry with a range of new and immersive features that will literally change the way you play the game. Don’t think of this as the next generation of handhelds. This is the next generation of gaming.


From PlayStation®Vita Blog


Just moments ago during our 2011 E3 press conference we proudly unveiled an incredible 2011 software lineup and amazing new PS3 peripherals, and also shed new light on our highly anticipated handheld gaming device, officially named PlayStation Vita (PS Vita). “Vita,” which means “Life” in Latin, was chosen as the name for our next-generation portable entertainment system because it enables a revolutionary combination of rich gaming and social connectivity within a real world context.

By blurring the lines between interactive entertainment and reality, our goal was to design a device that offered a revolutionary combination of rich gaming capabilities and social connectivity, bringing users closer to each other and closer to their gaming experiences wherever they are. Connectivity was a key objective and our goal was to create experiences and content that would challenge the traditional notions of gaming. It was vital to make a device that was an extension of a user’s entertainment world, no matter where one would go.

Successively launching in the global market for $249 starting the end of this year, PS Vita incorporates a beautiful 5-inch multi-touch organic light emitting diode (OLED) as the front display and a unique multi-touch pad on the rear. Two analog sticks enable a wider range of game genres. Together with the front touch screen and the rear touch pad, PS Vita offers new gameplay, enabling entirely new experiences.

We know you’ve been closely following all of the news since we announced the product in January. With mobile connectivity playing a huge role in PS Vita’s interactive experience, we know many of you have been wondering what carrier will be helping us bring you closer to other users and closer to your gaming experiences on the go. Today, we proudly announced a partnership with AT&T, which powers the nation’s fastest mobile broadband network, who will serve as the exclusive service provider for PS Vita in the United States. By having both Wi-Fi and 3G/Wi-Fi models available, PS Vita will enable infinite possibilities for you to “encounter,” “connect,” “discover,” “share” and “play” with your friends wherever they are.

The excitement doesn’t stop there. We believe that 2011 will be a defining year as we usher in a new era of portable gaming. With the official North American unveiling of PlayStation Vita also comes the introduction of an extensive line-up of software for the platform. PS Vita’s launch lineup is a force to be reckoned with, featuring exciting and attractive new titles from SCE Worldwide Studios, including UNCHARTED: Golden Abyss, LittleBigPlanet, and Ruin (working title), which utilize PS Vita’s groundbreaking technology to make unprecedented immersive, interactive and social game play available on-the-go. In addition, titles such as Little Deviants, Hot Shots Golf, Reality Fighter, Hustle Kings, ModNation Racers, Wipeout, Super Stardust Delta and a broad range of third-party game developers and publishers make use of PS Vita’s unique feature set. We can let all of you know that the biggest and best 1st and 3rd party gaming franchises will be coming to PS Vita.

Further enhancing your entertainment experience are new PS Vita features, such as “LiveArea,” an interactive space for each PS Vita software title that allows you to access the latest game information through PlayStation Network; “near,” a pre-installed application that lets you see what other PS Vita users in the vicinity are playing; “Party,” which lets you voice chat or text chat while playing games or using the Internet browser; and “Welcome Park,” a tutorial application designed specifically to guide you through PS Vita’s new user interface. For more information, be sure to visit PlayStation®Vita - PS Vita System, Next Generation Portable Handheld Console.

2011 is sure to be an epic year for us here at PlayStation. We’re always looking for ways to create compelling experiences for all of you and we’re very excited to bring you unparalleled gaming experiences with PS Vita. Let us know your thoughts and looking forward to having you try out PS Vita for yourselves!
Sources: PS Vita - Playstation Blog (and ) PlayStation®Vita - PS Vita System, Next Generation Portable Handheld Console
PS®Vita - Game Cartridges Pictures
Posted by Pirate of PS3Hax
So we know what the console looks like (PS®Vita), but what about the new game cartridge? Screenshots have now surfaced of the new Sony game cartridge and flash cards for the PSVita. The flash cards seem to be different size than the actual SD cards, and we have zero details on the game cartridges – I guess we will find out more details in the coming months.







The flash cards are (from left to right): 4GB, 8GB, 16GB, and 32GB



Personally I think Sony should have dropped the cartridge all together and made all game releases via PSN/downloads.

Thanks to anonymous for news tip.
Source: PS3Hax - PSVita: Game Cartridges Pictures
Confirmed Games in Production:

  • Uncharted: Golden Abyss
  • Resistance
  • Killzone
  • Real Fighters
  • Little Deviant
  • Call of Duty
  • Lumines
  • Sonic Generations
  • Hustle Kings
  • Top Darts
  • Mr. Ink Jet
  • BlazBlue Continuum Shift Plus Ⅱ
  • Silent Hill: Book of Memories
  • Mortal Kombat
  • Lego Harry Potter (5-7 years)
  • Pro Evolution Soccer 2012
  • F1 2011
  • Hot Shot Golf (Everybody's Golf)
  • FIFA 12
  • Wipeout 2048
  • Smart Ash
  • Broken
  • Super Stardust Delta
  • Sound Shapes
  • LittleBigPlanet
  • Dynasty Warriors
  • Gelding
  • Bioshock
  • Street Fighter Tekken x
  • ModNation Racers
  • Virtua Tennis 4
  • Ridge Racer
  • Oddworld: Munch's Oddysee
  • Oddworld: Stranger's Wrath
  • Gravity
  • Dust 514
  • Michael Jackson: The Experience
  • Dragon's Crown
  • Shinobido 2
  • Rugby Challenge