Sony has announced the release date for its PlayStation Vita handheld gaming device. It will be launched throughout Europe and in the US on 22 February. Jack Tretton, chief executive of Sony Computer Entertainment of America, revealed the launch date during a speech at the Web 2.0 conference on Tuesday.

The device will be available in two configurations: a Wi-Fi only model and a combined 3G and Wi-Fi edition. They are priced at £229.99 (€249) and £279.99 (€299) respectively.

PlayStation Vita is the follow-up to Sony's PSP console which has sold almost 70m units worldwide since its launch in 2004. The new console boasts a five-inch touch-sensitive OLED screen, a rear touchpad, rear and front cameras and two analogue control sticks. All games will be available for download from the internet, although some titles will also be released on an proprietary card format and sold through retail.

A large range of titles has already been revealed for the games machine, including new versions of Wipeout, Call of Duty, Assassin's Creed and LittleBigPlanet. The 'killer app' is expected to be Uncharted: Golden Abyss, a miniature version of the hit action adventure series. About 80 game titles are already in production for the device.

Vita also offers a range of social networking features, including video chat, as well as Twitter and Facebook access. The device also boasts a service named Near which allows Vita owners in close proximity to communicate and automatically swap data. There will also be compatibility with the PlayStation 3 console – some games will be playable across both formats.

The new console will go into direct competition with Nintendo's troubled 3DS console, which has failed to sell as well as expected, despite (or perhaps because of) its unique glasses-free 3D display. Sony rejected a similar technology for the Vita.