If you're a gaming fan, this is exactly the kind of smartphone you've been waiting for. This device has the similar look to the PSP Go game console, but builds-in the phone feature. It has a landscape slider with game controls and buttons. The phone has a large display, described as being between 3.7 and 4.1 inches with WVGA or better resolution, a 5 megapixel camera that we're told might not be final, and it'll likely have a 1GHz Snapdragon CPU on board.
The phone is mostly black with some silver highlights, and the gamepad area is white / silver in color. Apparently it's currently branded as a Xperia device, but it looks like it will carry PlayStation branding as well. Those who've seen the phone say it looks "pretty damn sexy."
In terms of release, it's possible that the phone and ecosystem could be introduced as early of October of this year, but we have yet to confirm.