Sony reportedly plans to unveil an updated PlayStation Portable handheld game device (PSP2) on Jan. 27, followed by a game-playing smartphone in February, according to a Bloomberg report citing sources 'with knowledge of the plans.'

Sony will also outline a strategy to use its networked entertainment services to share games, movies and music among handheld products, TVs and other devices.

With the updated portable player and the Sony Ericsson touch-screen smartphone to be shown at the Mobile World Congress in Barcelona, the Tokyo-based company aims to gain market share in markets dominated by Nintendo and Apple.

Nintendo will also announce today plans to introduce the Nintendo 3DS handheld in the U.S. and Europe. The device, which displays games in three dimensions without the need for special glasses, comes out next month in Japan.