Sony is close to announcing a newer slimline version of its Portable PlayStation handheld console according to reports online.

The new version of the PSP, which will follow in the footsteps on the PlayStation and PlayStation 2 in getting a new slimline design will supposedly feature a LED screen which will take less space as well as delivering a superior picture quality to the current model.

Also getting an improvement will be the UMD drive that according to the rumours will be faster and the PSP part deux will come packed with 8GBs of internal flash memory.

Finally the contollers are supposedly going to be more inkeeping with those found on the PS3 SIXAXIS controller, although it won’t be motion sensitive.

The new design is expected to be officially unveiled at this year's E3.