Sony first announced development of the PlayStation Portable at a press conference before E3 2003. Although mock-ups of the system were not present at the press conference or E3, Sony did release extensive technical details regarding the new system. Then-CEO of Sony Computer Entertainment Ken Kutaragi called the device the "Walkman of the 21st Century" in a reference to the console's multimedia capabilities. Several gaming websites were impressed by the handheld's computing capabilities and looked forward to the system's potential as a gaming platform.
The first concept images of the PSP appeared in November 2000 at the Sony Corporate Strategy Meeting and showed a PSP with flat buttons and no analog stick. Although some expressed concern over the lack of an analog joystick, these fears were allayed when the PSP was officially unveiled at the Sony press conference during E3 2004 In addition to announcing more details about the system and its accessories, Sony also released a list of 99 developer companies that had pledged support for the new handheld. Several PSP game demos, such as Konami's Metal Gear Acid and SCE Studio Liverpool's Wipeout Pure were also shown at the conference