Bright Side of the News is reporting that their source tells them there’s a definite release date set for the Second Generation of PSP (PSP 2) and that it will have PowerVR SGX543 graphics.

A quote from the story says "PlayStation Portable 2 can reach theoretical performance of desktop graphics cards released during this year" which is no major surprise seeing the power of graphics on the iPhone at times. But really, on such a small screen do you need PC-quality graphics? It looks good but the fine detail is really lost on users due to small screen size. Now a video out port would be helpful though.

They state the PSP 2 will be out ’within the next 12 months’ but they couldn’t release the exact date so as to protect their source. To read the full story and lots of tech specs about the possible PSP 2 head to Bright side of the News.

Personally we’re skeptical of all of it. With the PSP Go just released they are going to further dilute and fracture the market with yet another portable gaming system, from them? If that were the case then no one should be buying a PSP Go. I don’t believe that even Sony would do this as it would simply hurt their own bottom line.

Plus there’s the question of media. Since they’ve ditched UMD they certainly wouldn’t go back to it as it would be a huge step backwards. So will they again go digital distribution on yet another system? Even when they haven’t quite shown that it’s the best way to go with the PSP Go? Mini Blu-Ray perhaps? That would certainly give them a lot of storage per disc.

No, this doesn’t seem very likely at all. Time will tell, but I wouldn’t start saving my pennies for a PSP 2 just yet.