Sony execs dropped a sizable nugget regarding plans for the portable space in an earnings call today, revealing that the company will announce details on a new PSP product “when the timing is right.”

This statement was made in reference to investor inquiries over Sony’s strategy going forward for the PSP platform, which saw a decline of 50 percent in year-over-year unit sales in fiscal Q2 2010.

“As for the new PSP product, as mentioned, I know that you are not asking me to tell you when we will be coming out with a new product, but there is a gaming market based on [the] cellphones, and there are many changes that are being seen [with] Nintendo, as well as ourselves, in the field of the product for the gamers,” said a Sony exec. It’s unclear as who actually made the statement as the call was answered through an interpreter, although Engadget believes it was company VP and CFO Masaru Kato.

Also brought up were restructuring efforts made last April, a move that allowed Sony to position its network services divisions under the same umbrella. To that end, Sony execs noted “the planning and the prototypes for various content” are handled under a singular umbrella, meaning it’s very possible that SCE is collaborating closely with Sony Ericsson on that PlayStation Phone you’ve been hearing about.

Rumored details on the PSP2 continue to leak out, with recent reports claiming that the handheld is UMD-free and boasts 1GB RAM. This is in addition to an “HD” screen and rear touchpanel controls.

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Read more: Sony Turned Off PSN Services To Investigate ‘External Intrusion’,  SCEE Offering 10,000 GBP For PSN Prototypes,  Sony Reaches ‘Important Step’ Towards PSN Restoration,  Sony Expects To Restore ‘Some’ PSN Services Within A Week, Personal Information Likely Compromised, Including Passwords,  Sony: Piracy On PSP Is Sickening