The PSP mark 2's processor is rumoured to already be in development at UK outfit Imagination Technologies Group.
The licensor of graphics processor cores recently issued a press release claiming to be was working with "a major international consumer electronics company" which is now rumoured to be Sony, according to EETimes Europe's anonymous, unnamed sources.
Imagination will only confirm the processor is being developed for a "high-volume consumer device" – which is annoyingly vague enough.
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No comment on rumours
Sony recently launched the PSP 3000 – its latest refresh of the handheld, with a few minor tweaks and improvements to the last iteration - although a number of gamers have complained about the appearance of lines across the new, brighter screen on the console.
Sony Europe, as ever, will currently not "comment on rumour and speculation".
TechRadar will of course be keeping our beady eye on developments with this.