Written by Paulmichael 
Developer Ready At Dawn Studios was originally done with the PSP format back in June. Apparently, however, Sony has ordered up a sequel to last year’s excellent God of War: Chains of Olympus, and as such rumor has it that work has begun on a sequel. While the game, if it does exist, probably won’t ship this year, it looks like the PSP is really starting to pick up the pace again!
President and co-founder Didier Malenfant had this to say to Joystiq when asked about the rumor:
You know that even if we were [making the game], I couldn’t answer your question.
[Source]