In an interview with Wired Magazine's Chris Kohler, the president of Sony Worldwide Studios, Shuhei Yoshida, talked about the recent launch of the Playstation Vita, the new climate of portable gaming that includes competition from iOS and Android devices as well as the status of the much anticipated game, The Last Guardian. It turns out the title now needs to draw on the resources of other development studios within the Sony family in order to complete the project. From the interview:
Well, you know, it’s not just Santa Monica. We have great tech people in Worldwide Studios. We have a central tech group in the U.S. and the U.K. so we are giving them whatever help they need. Technically, we have the best engineers in the U.S. and Europe, so these teams are helping them, giving advice.
The Last Guardian was first announced as in production, with a trailer, at the 2009 E3. It's been in concept and pre-production well before that, with the Team Ico group advertising for a staff to work on the game back in 2008, and Ueda himself conceptualizing the title shortly after the completion of Shadow of the Colossus. There is still no official release date for this title.