Sony just announced a 20% slimmer PS Vita with a 5" LCD screen (current model is OLED) and 1GB built in memory.
Battery life lasts an estimated 1 hour longer due to the LCD screen and it now takes a micro USB charge cable. Price works out to be roughly US$200 and it comes in an array of colours.
Also announced was a 64GB (roughly US$100) memory card and a general price drop in memory cards.
Here's a video of it and a link to a more detailed post I will keep updated.
Oh shi…
They just announced Vita TV.
I've just thrown together a post, borrowed a bit from kotaku to be honest as I have to pop out ;)