Last January, Sony unveiled their successor to the PlayStation Portable, originally code-named The Next Generation Portable.

Now at the Electronic Entertainment Expo (E3) 2011, Sony finally revealed the final name; the PlayStation Vita. Vita means life in Latin and according to Sony Executive Kazuo Hirai the PS Vita will “blur the lines” between entertainment and real life.

The PlayStation Vita will have dual analog pads, OLED screen, dual cameras, GPS, six-axis motion sensors and three-axis electronic compass. The portable console will be sold in two models: the Wi-fi and the Wi-Fi/3G models, the 3G model will cost around $299 while the Wi-Fi only will cost at $249. Games that are already in development for the PS Vita are Uncharted: Golden Abyss, Bioshock, ModNation: Racers, Little Big Planet and Street Fighter X Tekken.

The PlayStation Vita will launch in the global market at the end of 2011.