The original Gizmondo handheld gaming console had a rocky history, but is now apparently back from the grave . In fact, parent company Media Power has just demoed the new version of the Gizmondo to Swedish journalists.

The new Gizmondo 2 is apparently housed in exactly the same uncomfortable chassis as the original Gizmondo, but boasts new software which has apparently been based on Android to encourage more open-source development for the platform.

"The new Gizmondo will come with either Windows CE 6.0 or Google's new Android operating system. The new unit will be open, so that you can run any Windows CE game on it. But you have to choose between CE and Android. You can't have both, or switch, at least not yet," said Hans Sandberg after Carl Freer showed off the new system to him.

Pricing meanwhile is apparently unconfirmed and though the Gizmondo 2 was supposed to hit a price point of $99 in the US (with no UK price given), the final price will apparently be a little bit higher and is yet to be finalised.

The good news though is that the Gizmondo 2 is apparently going to go on sale in late November or early December and will be available for pre-order when the website launches in mid-October.

Whether or not the Gizmondo 2 will prove a good investment given the track history of the company however remains to be seen, so let us know whether you plan on picking one up or if you'll be sticking with your Nintendo DS in the forums.