Update: according to Reuters, Sony shipped 321,400 Vita units in the first two days and are reportedly very happy with these numbers, but the following week sales were rather low
Sony's PSP Vita, announced back in January 2011, is finally shipping in Japan. According to reports Sony saw "massive pre-order demands" for the Vita. They originally planned to ship 500,000 units in Japan in the first day but have added 200,000 units - so first day shipments may reach 700,000 units. The Vita will launch in the US and the EU on February 22nd, 2012. You can already pre-order it over at Amazon.com ($249 for the Wi-Fi model and $299 for the 3G/Wi-fi model).
The Vita features a 960x544 5" touch AMOLED display (made by Samsung), a quad-core ARM Cortex A9 processor and a quad-core PowerVR (SGX543MP4+) GPU (Sony says that it is as powerful as a PS3), Wi-Fi, GPS, Bluetooth and 3G (AT&T, optional).