During its press event in Japan, Sony also unveiled the new Sony PS Vita TV, a 6x10cm console and set-top box that connects to your favorite TV and since it is based on PS Vita hardware, can play all Vita, PSP and PS1 games as well as offer wide range of entertainment services.
To be available, in Japan at least, as of November 14th for 9,480 yen (around US $95) as a stand-alone device, or in a bundle with a DualShock 3 controller and 8GB memory card for ¥14,280 (around $143), the new PS Vita will also offer Japan-specific video services such as Hulu, Tsutaya TV and Nico Nico Douga as well as Sony's own Video and Music Unlimited services. It also comes with Sony's LiveTweet Twitter client and Reader e-book software.
Despite its small size, the PS Vita TV will also be able to act as an extender for Playstation 4 games in case you want to play them on a another TV or when PS4 is simply occupied and as a second Vita system in case you want ad-hoc multiplayer gaming.
Unfortunately, Sony did not talk about the availability date for the rest of the world and can be considered as a direct competition to upcoming Apple TV, OUYA and even Nvidia's Shield in some scenarios.
Source:
SCEI.co.jp.