During the E3 press conference, only days after it's announcement of a cutback on the price of the PS3, Sony revealed it's plans to release a lighter and slimmer version of the PSP handheld gaming system.

The new PSPs are supposed to weigh 33% less and be 19% slimmer. Their LCD screen size is to remain the same, but the battery life will increase. They will continue to use the UMD fromat, but with faster loading times. The main memory is also set to double to 64MB. The nicest new feature amongst all these amazing upgrades is the new video out option. Finally you will be able to play your PSP games and movies on your big screen televisions.

According to Sony, the new PSP2 will retail at $199 and be available in the Fall. It will be released sequentially first in Japan, then the U.S. and Europe. The new PSP value pack will also include the game "Daxter", "Family Guy" UMD, and 1GB memory stick. Limited ceramic white color Star Wars Special Edition versions are also planned to be released packaged with the "Star Wars Battlefront" game.

With this announcement, all the rumors surrounding PSP2 have been unveiled.