Sony announced at E3 PlayStation Vita as the official platform name for the next generation portable entertainment system (codenamed NGP). Sony says, “Vita, which means Life in Latin, was chosen as the most appropriate name for the next generation portable entertainment system as it enables a revolutionary combination of rich gaming and social connectivity within a real world context.”

PS Vita has 5-inch multi-touch organic light emitting diode (OLED) as the front display and a unique multi-touch pad on the rear. Together with the front touch screen and the rear touch pad, PS Vita offers new game play experiences never before seen on any device, allowing users to interact directly with games in three dimension-like motion, through “touch, grab, trace, push and pull” finger motions. Also PS Vita features two analog sticks, which enable a wider range of game genres to be brought into the portable experience, such as shooters, action games, and fighting games.

PS Vita will come pre-installed with a newly developed application called “Party.” “Party” is an innovative application for a portable entertainment system, which enables users to enjoy voice chat or text chat not only during online gaming, but also when users are playing different games or using different applications such as Internet browser.

PlayStation Vita WiFi model will be available for 24,980 yen (including tax) in Japan, $249 in US and euro 249 in Europe, 3G/Wi-Fi model will be available for 29,980 yen (including tax) in Japan, $299 in US and euro 299 in Europe and successively launch in global market starting the end of 2011.