Sony Computer Entertainment Inc today announced plans to expand its in-home entertainment to outside the home with a new, all-in-one portable entertainment platform, “PSPTM.” Scheduled for release in the fourth quarter of 2004, the company’s goal is to extend the reach of PlayStation to a broader audience, allowing consumers to enjoy gaming and other entertainment content anytime, anywhere.

The foundation of this new platform is Universal Media Disc (UMD), which comprises of a 60mm optical disc (1.8 GB) in a cartridge, developed by the Sony Group, utilizing its latest disc technologies.

Announced by Ken Kutaragi, President and CEO of Sony Computer Entertainment, he said “This is the ‘Walkman’ of the 21st century.”