During this year’s E3 conference, Sony presented the semi-redesigned PSP but also confirmed previous rumors about a video downloading service being readied for the portable console and for PlayStation 3.

Speaking to Gamasutra, Sony’s Peter Dille, Senior Vice President of Marketing at SCE, confirmed the company’s plans to release a video downloading service “soon”, although he declined to offer any specific details about the release date.

"We didn’t have any announcements about that at the show [E3], but what I can tell you is we’re working on it, we see that it’s critical, not just for PSP but also for PS3, and it’s something we know is super important to get right."

Sony is taking its time to test the application thoroughly before bringing it to the masses, from fear of not receiving negative feed-back.

"We won’t have a second chance to make a first impression. If we launch it and it’s not right, we’re going to get creamed. So we want to make sure we get the consumer experience right, get the right content, and we’re working really hard on it. And I don’t think we’re talking about years, I think this is something we could get behind really soon."

In December 2006, prominent business magazine Financial Times rolled out the first information about Sony’s video service, stating that the unnamed application will be a direct rival for Apple’s iTunes.

PSP owners will be able to download on their PC the videos they want and then easily transfer them to the PSP’s flash card. Sony is already distributing a 4GB memory stick capable of storing 10 feature films, and 8GB cards are also available, but at a higher price.

PS3 owners will of course download the movies on the console's hard drive.