Sony has this minute kicked off an afternoon press conference in Japan. Called the PlayStation Meeting, it's widely expected that the platform holder will announce its PSP2 console.
Expectation is high for the machine, with some industry insiders claiming it's technically as "powerful as a PS3".
We have a man reporting back from the ground, and we'll stick up everything he tells us right here. This is all going to go swimmingly. Don't forget to refresh for the latest news.
Morning, folks. Kaz Hirai is apparently on stage RIGHT NOW. Things have kicked off.
He's showing a video clip from an old E3. It's called 'Cyber Society' and it's showing how PlayStation is connecting us all up. This is looking promising.
He's talking about PlayStation being in the "centre of the living room", and that the company is proud to have taken that place. Whatever you say, Kaz.
"Standard stuff" says our unenthused man. What a grump. He's talking Blu-ray, HDMI and 3D.
PSN has had 1.4 billion downloads, says Kaz.
The firm is can boast more than 69 Million PSN accounts as of January 25. Impressive.
Righto. Now we're onto portable gaming. That didn't take long.
Hirai has shown how PS Store will launch on Android devices. Could we have a PS Phone announcement coming?
He's addressing connected devices again, discussing a "hardware agnostic game framework".
BANG. The screen is reading 'portable' and Kaz is talking about a "next generation portable". This could be it people.
Right, he's called it, more officially this time, exactly that. Sony's Next Generation Portable. Codename: NGP. Imaginative.
Kaz is showing a trailer with a guy on a bus. Again, all about connected devices. It says "Play Life".
WOOP. Here it is. Dual analogue sticks. Six Axis controls. Front and rear cameras. Much bigger screen than PSP. Touch pad on the front and rear and Flash memory.
Also, 3G and wifi. They're still calling it NGP.
Sorry for the delay there chaps and chapesses. Having a bit of connectivity trouble. Ironically.
Worldwide studios boss Shuhei Yoshida took the stage and showed off a whole host of software.
Hot Shots Golf, Gravity Daze, Killzone, Reality Fighters, Smart As, Broken, LBP, Little Deviants, WipEout, Resistance, and Uncharted all coming!
Yoshida said the screen is "about twice the size" of a regular smartphone's 3.5 inch display.
"You can tilt the console and you can see the images clearly from every angle", which is perfect for gamers "who like to play lying down". Oookay.
"The most frequent request from PSP users was to add a right-side analog stick"
"We developed this 'micro analog stick.' Despite its small size, it delivers a Dualshock experience"
Uncharted looks "stunning" according to our man in Japan. He works for a PlayStation magazine, but that's no reason not to trust him.
There's motion control, too - Yoshida rocked the NGP back and forth to build momentum in one scene. And get this, he rubbed the rear track pad up and down to climb a vine. Nice.
It has Trophies! Confirmed!
Design man Muneki Shimada takes the stage. Sony is calling the shape of the system a "Super Oval design", which allows you to play for longer.
Yoshida returns to show Little Deviants. We like the name of this one.
It's a colourful little game that shows off the dual touchpad functionality. Nice. Front touchpad moves the camera.
KAz is back to talk about LiveArena. This is a new networking space where you can launch games, buy DLC, see what friends are playing and communicate with them.
It also boasts a function called Near, which lets you see what people around you are playing.
Our man in Japan is really impressed with Hot Shots Golf. Says it looks as good as most sports games on PS3, 360.
Kaz discussing the PlayStation Suite, a new set of tools for studios.
"The Suite means that hopefully we'll be able to work with developers we haven't worked with in the past."
Capcom, Sega, Tecmo Koei, Konami, Epic and Activision in the audience, he says.
Capcom's Jun Takeuchi on stage. Says thumbsticks are great. No announcements, but shows off Lost Planet 2 in real-time. Not a bad looker, as we recall. Just a bit of a pig to play :-)
Sega's Toshihiro Nagoshi now. Showing off Yakuza - again, in real time. Nice. Says they're using PS3 shaders and effects on NGP. Followed by Tecmo Koei.
Boom. Kojima in the house.
"On NGP, we can enjoy the same quality as PS3."
"When we launched Peace Walker for PSP, this is what I said: In the near future there will be a world of cloud computing... I really believe that you can have a portable MGS and Peace Walker was an experiment for the cloud computing future. NGP allows this cloud computing."
"What I'd like to realize is playing on your PS3, and when you go out, you put the game on your NGP, and when you come back home, you can once again use your PS3 and large screen TV."
"This dream is going to come true in the near future. And right now, I'm working on this project of the dream. I'm sorry, I can't reveal this now. But we'd like to present what we're doing at E3"
Now Epic on stage. Sony wheeling out the big guns. Tim Sweeney. He shows off something which looks like Epic Citidel. It's "very sharp" according to our man.
"This is made possible by Sony's multi-core GPU... which is roughly 4x as powerful as any portable we've previously seen," says Sweeney.
Then he shows a port of Dungeon Defenders.
"We're very excited and think you'll be stunned at what's possible on Sony's next generation portable platform."
Okay. It's the big one. Call Of Duty confirmed for PSP2. Activision's Philip Earl says: ""We believe that NGP will change the way people play games on the go, and what better way to prove that, than with Call of Duty."
Quite. Kaz wrapping up now. Showing off a list of devs who are working with the console. Which is, you know, everyone.
We'll have more for you on PSP2/NGP throughout the day. Thanks for reading!