Today Sony, no doubt in a jealous rage over the wallet friendly Nintendo 2DS, announced their own budget handheld: The PSVita TV.
The Vita TV (as you may have guessed) will allow you to play all your Vita games with the television as a display. It has also kept the previously announced remote streaming from the PS4 which means you can take the device to any TV in the house and play your PS4 remotely. Netflix and other streaming services appear to have made the jump with the system as well and the device will run anywhere up to 1080i via the built in HDMI.
The system accepts a standard Dual Shock 3 but based on the video provided it looks like it runs with a Dual Shock 4 as well. The touch screen functionality of the Vita does appear to be gone though, so not every game will run perfectly.
As of this moment the system is only announced on the Japanese Playstation site but you can probably expect to see it showing up on the US site soon. The Japanese Playstation site shows the price as 9,480 yen so you can probably expect around a $99 price point when the system launches in the US.