Oct 6, 2010 06:57 GMT  ·  By

Sony's PlayStation Portable is set to be thoroughly overhauled next year, with the release of the all-new PSP2, which will make its market debut during the holiday season of 2011, at least according to a new British source.

Rumors of a PSP2 have been getting increasingly powerful during the last few weeks, as many developers have revealed that they received new development kits with improved hardware.

This was immediately attributed to Sony wanting serious third-party support for the new handheld console's debut, unlike the one of the lackluster PSP Go.

Now, a new report from site VG247 reveals that Sony has informed certain insiders about the official release date of the PSP2.

According to the source, the PSP2 will be making its debut in late 2011, right in time for the holiday season, meaning that an officiall announcement may arrive at the Game Developers Conference this Spring or at E3 next summer.

According to previous rumors, the PSP2 will sport two cameras, one facing the front and other the back, and boast both a touchscreen interface and physical buttons, following Sony's own train of though that buttons can't be replaced for gaming.

This isn't the first time rumors pointed to a new PSP console, as before the official announcement of the PSP Go, many insiders claimed that it was a whole new device with features that weren't seen before.

In the end though, it turned out to just be a slider version of the regular PSP, with the same hardware but without a UMD drive, relying only on digital downloads for game acquisitions.

This time though, the PSP2 might be really true, but until the holiday season of 2011 appears, we're still left with an awful lot of rumors and speculations and no concrete details.

Is a PSP2 worth Sony's time and effort or should the Japanese company just drop its portable efforts altogether and focus on the PlayStation 3?