Mobile gaming looks set to heat up later this year, with Sony announcing a new portable gaming system armed with more power and features than you can throw a joystick at.

The new console is only known by “Next Generation Portable” or “NGP” at the moment, and is being touted as the “ultimate portable entertainment experience.”

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While we’ve yet to see one up close, Sony have jammed a ton of technology into this thing. We’re seeing a huge 5 inch OLED touchscreen on the front with an extra touch pad on the back, both front and rear cameras, built-in microphone, motion control technology (similar to the SixAxis technology found in PlayStation 3 controllers), GPS, WiFi b/g/n, 3G mobile connection, Bluetooth 2.1, graphics similar to that of the PlayStation 3, and a high speed quad-core processor.

On paper, Sony’s NGP has more technical oomph than an iPad, and that’s quite impressive.

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Sadly, no word on price just yet, but expect to hear more about as we inch closer to the end of the year.