1UP reports that it has learned from sources directly involved with the new PSP project that the handheld will be unveiled at this year's E3 conference in June.

According to 1UP's sources the new PSP will not be called the PSP 2 or the PSP-4000, but the PSP Go!. Other code names for the handheld include the PSP Slide and the PSP Flip. Sources also confirm that the new PSP will be available in two SKUs, offering the option of eight or 16 GB of internal flash memory.

In addition to losing the UMD drive, the new PSP will include a d-pad, analogue nub, and face buttons as part of a sliding control interface which sticks out below the screen. Early rumours of twin analogue sticks are said to be inaccurate.

The handheld's launch later this year (Japan in September, the US in October/November) will be supported with over 100 classic and new PSP titles available to download from the PSP Store - Gran Turismo Mobile is said to be a premier launch title.