There are rumors that Sony will soon (before the Tokyo Game Show - September 19) unveil the next generation PS Vita. The new handheld console will sport a larger display - a 6.3" AMOLED (with the same resolution as the original Vita: 960x544). This AMOLED will be made by SDC of course. The new Vita will also sport more RAM (1Gb) and will be backward compatible with the first generation device. Sony will probably also upgrade the CPU and GPU.
The original Vita featured a 5" touch OLED display (960x544, Samsung made, apparently with green PHOLED, so we can assume the next-gen Vita to also include green PHOLED for power efficiency), 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 optional 3G. Gaming controls include dual analog sticks, motion controls and a multi-touch pad on the rear side.
The current Vita device costs $249 for the Wi-Fi version and $299 for the 3G one.