As with Valkyria Chronicles 2, Valkyria Chronicles 3 is headed for the PSP. And like the other games in the series it is set in an alternative World War II.
While the PSP is powerful hardware, the quality of the anime and the game art really merit the PS3 treatment the first game got instead of the PlayStation Portable. But, hey, I don't make these games. Sega does. Take it up with them.
Valkyria Chronicles 3 is due for a January 2011 release.