Sony on Tuesday detailed plans for a much-anticipated, all-in-one handheld gaming device that includes a digital music and video player and could even act as mobile telephone. Sony described a prototype for its PSP gaming device--due out before the end of 2004--during a presentation to U.S. investors that reiterated plans to restore profitability to the company.

"PSP will be the Walkman of the future," Ken Kutaragi, Sony's executive deputy president, said in comparing a PSP prototype with Sony's highly successful, earlier generation of music players.

Read more: CNet News. Also, The Register has posted a concept design picture of the device.