There are rumours of SonyEricsson making a PSP branded phone. I don't think that SE will be releasing PlayStation Phone anytime soon. But someone has already managed to play PlayStation 1 games on iPhone.
PlayStation 1 games on iPhone? Sounds weird but it's already a reality. But wait, iPhone doesn't have any buttons. Right, the iPhone doesn't, however for a tough programmer that ain't a problem at all. The guy has easily got around this problem by mapping the PS controls to the touchscreen. Wow!