Here's the full technical specification, direct from Sony:

CPU
ARM� Cortex-A9 core (4 core)

GPU
SGX543MP4+ (4 core)

External Dimensions
Approx. 182.0 x 18.6 x 83.5mm (width x height x depth) (tentative, excludes largest projection)

Screen (Touch screen)
5 inches (16:9), 960 x 544, Approx. 16 million colors, OLED
Multi touch screen (capacitive type)

Rear touch pad
Multi touch pad (capacitive type)

Cameras
Front camera, Rear camera

Sound
Built-in stereo speakers
Built-in microphone

Sensors
Six-axis motion sensing system (three-axis gyroscope, three-axis accelerometer), Three-axis electronic compass

Location
Built-in GPS
Wi-Fi location service support

Keys / Switches
PS button
Power button
Directional buttons (Up/Down/Right/Left)
Action buttons (Triangle, Circle, Cross, Square)
Shoulder buttons (Right/Left)
Right stick, Left stick
START button, SELECT button
Volume buttons (+/-)

Wireless communications
Mobile network connectivity (3G)
IEEE 802.11b/g/n (n = 1x1)(Wi-Fi) (Infrastructure mode/Ad-hoc mode)
Bluetooth� 2.1+EDR (A2DP/AVRCP/HSP) ""