Chipset manufacturer Nvidia has announced a handheld gaming console.

Codenamed Project Shield, the new console is powered by a cutting-edge Nvidia Tegra 4 processor and has the ability to output 4K resolution over HDMI.

Other hardware features include a 5-inch 720p touchscreen, microSD expansion and dual analogue sticks.

On the software side of things, Project Shield is equipped with a stock version of Android, complete with Google Play support and preinstalled Google apps.

Gamers are also able to stream PC titles to the device via WiFi, provided that their PC is equipped with the required GeForce graphics card. 

The new console is set for a North American release in Q2 2013, with no word on an international roll-out or price.