You will need to purchase a memory card to save games / store videos as the memory of the PS Vita is small and will only be used for System Updates!
Leveraging PlayStation's legacy of delivering deep and immersive gaming experiences, the PS Vita system will bring to consumers new ways to play through a unique feature set such as a stunning OLED front touch screen and rear touch pad, dual analog sticks, motion sensors, and dual cameras. With more than 80 games currently in production from first and third party studios including "LittleBigPlanet," "Wipeout 2048," "Resistance: Burning Skies," "Uncharted Golden Abyss," Ubisoft's "Assassin's Creed," EA Sports' "FIFA," Activision's "Call of Duty" and many more, the PS Vita is poised to deliver gameplay experiences unmatched by any handheld or mobile device on the market.
In addition, with Wi-Fi support, PS Vita will draw consumers deeper into the gameplay experience and enable them to connect and play with the world around them, including their friends and other PS Vita owners through native PS Vita applications, near and Party. A variety of social networking and communications services such as Facebook, foursquare, Skype and Twitter will also be available on PS Vita.
CPU: ARM Cortex-A9 core (4 core)
Main memory: 512MB
VRAM (Virtual Random Acces Memory): 128MB
Screen (Touch screen): 5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED
Cameras: Front camera, Rear camera
Frame rate: 120fps-320x240(QVGA), 60fps-640x480(VGA)
Resolution: Up to 640x480(VGA)
Sound Built-in stereo speakers
Wi-Fi location service support
Memory card slot
Music: MP3 MPEG-1/2 Audio Layer 3, MP4 (MPEG-4 AAC), WAVE (Linear PCM)
Videos: MPEG-4 Simple Profile (AAC), H.264/MPEG-4 AVC High/Main/Baseline Profile (AAC)
Photos: JPEG (Exif 2.2.1), TIFF, BMP, GIF, PNG