From Playstation blog:

Blurring the lines between interactive entertainment and reality.

Revolutionary gaming experiences with dual analog sticks, front and rear cameras, front multi-touch display, multi-touch rear pad, GPS, SIXAXIS^®motion sensors, and three-axis electronic compass.

Stunning multi-touch 5-inch Organic Light Emitting Display (OLED).

The richest, deepest and most engaging handheld gaming lineup – including Nathan Drake’s epic adventure in Uncharted Portable (working title).

Always On connectivity via Wi-Fi and 3G*

Location based gaming allowing players to find and meet friends virtually for brand new experiences.