With the launch of the Nintendo Switch 2 last year and the arrival of the ROG Xbox Ally, Sony is lagging behind its console competitors in the handheld arena. There's the PlayStation Portal, sure, but that's more of a PS5 accessory than a standalone device. However, it's looking more like an out-and-out PlayStation handheld could be in the works, especially given a new quote from a Sony executive.
In a recent Q&A with investors, SIE President Hideaki Nishino was asked about the company's plan to bring back users who migrated to gaming PCs during COVID. Nishino offered a detailed answer, confirming that Sony wants to ditch the "PlayStation equals the living room" perception, with future products that can offer "a seamless experience that can be enjoyed naturally beyond the living room."
Admittedly, we're doing a bit of reading between the lines here, but it makes sense. The "beyond the living room" part of Nishino's response points almost directly at handheld hardware. This quote also comes on the back of over a year of consistent PlayStation handheld rumors, with some prominent leakers pointing to the launch of an AMD-powered Sony handheld capable of running PS4, PS5, and PS6 games in the not-too-distant future.
Nishino's response to the Q&A isn't the only recent reference from the SIE President regarding Sony's approach to future product launches. In an interview with Famitsu, Nishino said that Sony wants to "continue creating new consoles while adapting to changing lifestyles" and also alluded to the success of the PlayStation Portal. Again, Nishino doesn't outright state that a handheld is on the way, but it very much sounds like it could be in the works.
The one thing that could get in Sony's way is the ongoing issues surrounding RAM and storage availability. This industry-wide problem has already driven up the prices of some of the best handheld consoles, including the Steam Deck OLED, and could make it more difficult for Sony to produce a PlayStation handheld while marketing it at a reasonable price. For now, though, we'll have to wait and see.

