Many speculators point to this as yet more proof that Google is working on a mobile handheld device following the company's acquisition of a company founded by wireless designer Andy Rubin.

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Nokia is a world leader in the development of handheld device and mobile communications technologies, which is also demonstrated by Nokia's strong patent position.

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Mobile phones and handheld computers are now the same device.

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Project SHIELD is by far the fastest mobile device we've worked on and it lets us put console quality graphics on a handheld device.

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Much as Nintendo's promised Wii U incorporates a handheld device with gameplay on a traditional console, players will be able to enhance gameplay on their mobile devices as well.

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The company said it has also created new connections between the PlayStation 4 and its handheld videogame console, the PlayStation Vita, allowing customers to play games running on the PlayStation 4 on the mobile device.

WSJ: Sony Announces PlayStation 4 Videogame Console