Sony announced the mylo personal communicator COM-1 in early August. The interesting Sony device is supposed to ship this month. Amazon.com is taking pre-orders for the mylo now.

The stylish Sony mylo comes in black or white and sells for $349.99.

Access e-mail, browse the Web, send instant messages, make Skype VOIP internet phone calls, play music, view photos and play videos. The Sony mylo does it all. A QWERTY keyboard, Wi-fi and a 2.4 inch color screen are the key features of this multifunctional device.
The price is high compared to the Sony PSP. Sure it is a different category, but still I think consumers will have an issue with the price point. Especially because the mylo is attractive for the teen segment.
See also this review of a pre-production Sony mylo.