Report: Sony is developing a dedicated PlayStation handheld

Sony wants to re-enter the handheld arms race by developing a new portable PlayStation console. According to a report from Bloomberg, the Japanese company is developing a handheld device capable of running PlayStation 5 titles on the move.

People familiar with the project said the console is in the early stages of development and will enable Sony to compete with Nintendo and the immensely popular Switch (which has sold over 146 million units to date).

It could also contend with any future portable Xbox hardware from Microsoft, which continues to express and interest in the handheld market.

It's claimed the device is years away from launching and could be shelved before ever making it to market.

Sony has previous when it comes to building handhelds. The company released the PlayStation Portable (PSP) to compete with the Nintendo DS in 2004. The PSP was eventually succeeded by the PlayStation Vita in 2011.

Although the PS Vita was the last dedicated PlayStation handheld to hit shelves, Sony did tentatively revisit the concept with the PlayStation Portal–a remote player for the PlayStation 5 that lets owners access and play their PS5 catalog over select Wi-Fi networks.

Unlike the Nintendo Switch and Valve's Steam Deck, however, the PlayStation Portal isn't a standalone device.

Sony declined to comment on the news when approached by Bloomberg.