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Mistershine said:

While I expect Sony to use the Sony Ericsson name, nothing about that phone says PSP2. If it is and has that level of performance with no hard buttons, only a touch screen then Sony have lost the plot.

There is the traditional PS buttons hidden where you usually find the keyboard, however that's not the PSP2, it's just a PSPhone that will (probably) play PSP1 games, Minis and other games tailored for it.