From E3

The new system is called PSP -- PlayStation Portable. The system [launching in 2004] uses a palm-sized UMD (Universal Media Disc), which has a 2.4" diameter and can store 1.8 gigs of data (dual-layered).

•It will have an anti-piracy feature
•Will also use MPEG-4
•Widescreen LCD, 16:9 backlit screen
•Can do 3D polygons and curved surfaces
•480 x 232 pixels, 4.5" large unit.
•Will use Sony's memory stick
•It will be 32-bit architecture, and will have 3D sound
•It will have wireless capabilities