The Full Specs

CPU: ARM® Cortex™-A9 core (4 core)
GPU: SGX543MP4+
External Dimensions: Approx. 182.0 x 18.6 x 83.5mm (width x height x depth) (tentative, excludes largest projection)
Rear touch pad: Multi touch pad (capacitive type)
Cameras: Front camera, Rear camera
Sound: Built-in stereo speakers, Built-in microphone
Sensors: Six-axis motion sensing system (three-axis gyroscope, three-axis accelerometer), Three-axis electronic compass
Location: Built-in GPS, Wi-Fi location service support
Keys / Switches: PS button, Power button, Directional buttons (Up/Down/Right/Left), Action buttons (Triangle, Circle, Cross, Square), Shoulder buttons (Right/Left), Right stick, Left stick, START button, SELECT button, Volume buttons
Wireless communications: Mobile network connectivity (3G), IEEE 802.11b/g/n (n = 1x1)(Wi-Fi) (Infrastructure mode/Ad-hoc mode), Bluetooth® 2.1+EDR （A2DP/AVRCP/HSP）

http://psp.ign.com/articles/114/1146377p1.html
I would love if PS3 have a new redesigned xmb like that

From eurogamer.
Also, @TS please put this one the first post-
http://www.thesixthaxis.com/2011/01/27/off...ngp-fact-sheet/

Official PSP2 fact sheet.
For those who still aren't sure on what's new.

everytime they launch a new revision game a new format will be announce...i supposed this thing is not backward compatible!!!sigh...

Sony says the new PlayStation Portable will also play PSone games supported via its PlayStation Suite platform and will be backwards compatible with downloadable PSP games.

Sony says NGP will be 'affordable,' won't cost $599, WiFi-only version also coming

We had quite the interview with Sony's Jack Tretton, but we certainly didn't corner the market on hot new NGP details -- Eurogamer and Game Informer quizzed the company's Andrew House and Shuhei Yoshida, respectively, and came out with some important tidbits about the quad-core gaming handheld, particularly regarding pricing. Though Tretton seemed to suggest we'll see a price somewhere northward of the Nintendo 3DS's $250, Yoshida was quoted as saying "It's not going to be $599," laughing off the idea that the system would cost as much as the PlayStation 3's infamous appraisal at launch, and House said that Sony "will shoot for an affordable price that's appropriate for the handheld gaming space."

While none were willing to cough up a real ballpark estimate, the SCEE president revealed one way that the cost might come down: pushing out a lesser model without cellular connectivity, a strategy we've seen before. House said that while all devices come with WiFi, "a separate SKU will have 3G," making us wonder which of the handheld's other groundbreaking features might carry a premium. After all, OLED screens don't come cheap. Find the rest of Eurogamer's excellent interview (including a bit about how Sony will prioritize downloadable content over physical media) at our source link.

Tretton wouldn't definitively say whether or not original PSP titles are in Suite's future -- "at this point, it's PlayStation One games, but I think it can go in a number of directions." This runs a bit counter to what Kaz Hirai said earlier in the day, but either he might've misspoken or the translator erred.

The controller overlay we saw used as an example at the event was just that -- an example, with no guarantee of future use.

That "holiday 2011" launch applies to at least one territory, but Sony was "ambiguous for a reason" (i.e. simultaneous global rollout is a dream but far from a promise.) We probably won't have a clearer image until fall rolls around, sometime after E3.

No discussion on battery life, but Sony is "certainly look to improve upon [original PSP]." For what it's worth, that one measured about 4.5 to 7 hours at launch, and Sony eventually sold an extended-life pack.

PS Suite will have non-gaming apps.

A WiFi-only version? "We haven't made any determination on models yet," which is infinitely more vague than the confirmation of non-3G SKUs from SCEE president Andrew House.

Will Sony or a Sony partner make a flagship device to show off the Suite? A, dare we say, PlayStation phone? "Stay tuned" was all Tretton would say, followed by a laugh. Hey, at least we acknowledged the elephant in the room.

^Not developed by Naughty Dog, developed by the developers of Resistance Retribution on the PSP though.

If only NGP have texting system, instant buy

This NGP uses Android right?

there will be various app that can be downloaded...tru Android store??

The UI is basically a heavily modified Android.
It's bound to have a texting system, no worries.

Call of Duty For NGP 'Will Set The Bar' For Next-Gen Portables

PlayStation Portable owners haven't seen a Call of Duty game on their platform since 2007's Call of Duty: Roads to Victory. That will change with the arrival of the next generation PSP, the NGP, says Activision.

Philip Earl from Activision took to the stage at Sony's unveiling of the PSP2 to show the Call of Duty publisher's support for the handheld in the form of a new Call of Duty game. "We believe that NGP will change the way people play games on the go," Earl said, "and what better way to prove that, than with Call of Duty."

"When considering the OLED screen, dual analog sticks, touch screens, and social connectivity options, the possibilities are endless," Earl said.

It's that last item on the list of features that has us most interested, considering Sony's push for integration between the PlayStation 3 and NGP. If your future Call of Duty games could feature persistent progression across both the console version and the portable one, that could be quite the hook—not to mention the opportunity to sell double the Call of Duty games to PlayStation fans each year.

No formal announcement yet about what Call of Duty NGP has in store, but expect big things closer to the handheld's launch.