Originally codenamed ‘NGP’, the official successor to the PlayStation Portable is known as PlayStation Vita. Vita promises to be the first handheld this generation to boast console quality graphics, as well as several different methods of interaction and a stellar line-up of first and third party games.

What we do know for certain about the PSV is that it is a real powerhouse of a device – sporting a state of the art processor and an incredible GPU to boot, the fact that this will retail from £230 is quite simply astonishing. Little is known about the performance of the ARM Cortex A9 Quad Core, but we do know that the dual core version of the same processor family can run at up to 2Ghz in speed.

Likewise, little is known about the graphics processor (known as the SGX543MP4+), although like the processor, there’s some information about similar GPUs on the market. Put it this way, the iPad 2 uses the dual core version of the same GPU – and the graphics on that are not bad at all, the Vita’s GPU is quad core (denoted by the 4 at the end of the name) – so we can only imagine how powerful this thing is.

Aside from the performance of the Vita, there’s a lot of different ways to interact with it. First, you’ve got the standard PlayStation buttons – exactly the same as the PSP, with the exception of two analog sticks instead of one ‘nub’. Then there’s the front touch screen, the rear touch screen, sixaxis control, two cameras and a microphone. All in all, there’s a wealth of different ways you can use the device, limited only by the creative geniuses that develop for it.

Then we’ve got the screen – and what a beast of a screen it is too! The Vita’s 5″ screen is just a smudge larger than the PSP’s 4.3″; and the Vita’s is OLED – one of the sharpest methods of displaying content out there (nearly doubling the pixels per inch found on a PSP).

Next is connectivity. The Vita has various ways of communicating, and is compatible with all the latest wireless technologies including IEEE 802.11 b/g/n, Wi-Fi, Bluetooth, and (if you’re shelling out for the premium model) 3G. Wi-Fi will likely be the method used to play online, whereas 3G will be used for online notifications (if available), the Bluetooth will probably be used to connect to the PS3.

Then there’s the media capabilities. Sadly, Vita ditches the UMD drive that we were originally promised – although Sony say they are looking into possibilities of UMD redemption. Instead, the device uses flash memory cards to store games on, every game can be downloaded from the store, and a selection of titles will be available to buy on separate memory cards. Buying a game on a memory card will mean that all save data and future patches for that game will also be stored on that card – the only data stored on the Vita itself is the System Software.

Other than that, the Vita features a wide range of compatibility with current media standards. For music, PSV supports MP3, MP4, AAC and WAVE formats; for video, MP4, AVC, and AAC; and for pictures, JPEG, TIFF, BMP, PNG and GIF. And you’ll likely be able to download videos from the PlayStation Store.

Finally there’s the interface and software features. XMB (Sony’s standard interface for PlayStation consoles since the PSX in 2003) will be bowing out in lieu of the new LiveArea system. This system will feature an area for each game where the latest news and notifications will be displayed; there’ll also be areas to view and receive game notifications from friends, view trophies, communicate with nearby Vita owners, and cross-game chat. There’ll also be an application which teaches you how to use all of Vita’s features, and I’m sure we’ll see all that at a later date.

Vita is shaping up to be a truly magnificent device in itself, let alone the games that will be releasing with it. There’s no concrete release date, but chances are with Sony’s rack record that Europe won’t be the one region getting it in 2011. Price info for the UK is also scarce, however the Euro prices have been revealed – €249 for standard WiFi, and €299 for WiFi + 3G. Some online UK retailers have listed the prices at: £230 for standard WiFi and £280 for WiFi + 3G.