Word we are hearing is that Sony is planning to discontinue the PSP (or PlayStation Portable) and will end shipments later this year. If this ends up coming to pass, the handheld console which was a first for Sony, was launched way back in 2003 at E3, but it took some time for Sony’s first portable console to be available worldwide.

The PSP has gone through several revisions including the removal of the Universal Media Disc (UMD) and the release of a revised version known as the PSP Go which was a download only version that was a total failure and quickly killed off in 2011. A very popular revision of the console known as the slim and lite version known as the PSP-2000 sold quite well and it was followed by the PSP-3000 version which was tweaked and available in several special edition versions.

Since PSP games can be played on the PS Vita that came from the PlayStation Store, that also had to factor into the company’s decision as well. Word is that the decision to end the sales of the PSP does not and will not have any effect on the PlayStation Vita which will continue on as Sony’s portable gaming platform. Due to the included streaming gaming support that is included with the PlayStation 4 using the PS Vita, it is unlikely that Sony will be planning to discontinue the PS Vita anytime soon, but a lower cost hardware revision is likely in the cards at some point in the near future, sources tell us.

Total sales of the PSP in all of the console revisions is over 80 million consoles worldwide according to a number of sources.