From reddit:
Sony Group Corp. is in the early stages of developing a portable console that would play its PlayStation 5 games on the move.
The product is aimed at expanding Sony’s reach and contending with Nintendo Co. for the portable gaming market, according to people familiar with its development. It would also counter any potential mobile hardware from Xbox maker Microsoft Corp., which is working on prototypes in the category as well. Sony’s portable device is likely years away from launch and the company could still decide against bringing it to market, the people said, asking not to be named discussing private plans.