Sony officially named their Next Generation Portable: it’s called the PlayStation Vita. The good news is that it’s 3G ready, has social networking features and dual cameras. The bad news is that you have no choice but to sign up with AT&T to use networking features.

If you don’t mind selling your soul to the digital phone devil, then you’ll probably love everything the PS Vita has to offer and the network service. A new social networking service is also in the works for the PS Vita called Nair, enabling gamers in-depth social features to share media and communicate with each other.

There’s also a ton of exclusive games on the way for the PlayStation Vita, including portable versions of big name franchises such as Uncharted, with support for SixAxis, screen controls and motion controls. Snazzy, eh?

More details on the PlayStation Vita’s pricing and availability are coming soon.

Update: The PSV Wifi only will retail for $249.99 and the PSV 3G/Wifi will retail for $299.99.