The new PlayStation Portable will come in three versions: ‘Ice Silver’, ‘Ceramic White’ and the basic black version. The new device will have a high quality video output, so you can connect it to your home TV and watch movies or play games.

"From a distance, this PlayStation Portable might not look very different from the current model ... but when you have it in your hand, the difference becomes quite clear," Sony Computer Entertainment Chief Executive Kazuo Hirai said. "It's actually 33 percent lighter than the current PlayStation Portable. It's also 19 percent slimmer."

The retail price of the slimmer PlayStation Portable is expected to be about $199.99 for both new colors. The basic black version will retail at the same price $169.99.

Sony is also planning a plenty of new games for PlayStation Portable this year. There will be about 140 games, including 20 third-party games exclusive for the system and 8 first-party exclusive games. HULIQ