The phone will be shipping with the latest version of Google's Android platform, 2.3 Gingerbread, and it aims to combine the music experience with social networks. There will be deep Facebook integration, a media discovery application, and other great social as well as music features.
In terms of hardware, the phone sports a 1Ghz processor, 3.2-inch screen with 480 x 320 resolution, five-megapixel auto-focus camera with 720p HD video recording capability, VGA front facer for video calling, 320MB of ROM, microSD card slot with support for 32GB storage (2GB card included), 1200 mAh battery, WiFi, Bluetooth, GPS, DLNA and Sony’s xLOUD audio enhancement technology for music lovers.
The Sony Ericsson Live with Walkman will be available in the last quarter of the year in both black and white flavors
Source: Sony Ericsson (1)(2)