There are no details as of yet. However though, rumors from last October have suggested the game will be subtitled Ghosts of the Past. The rumor has claimed that it'll be the first of three prequels to the existing Prince of Persia games. This supposedly trilogy ditches the darker tone of the last two PoP games is "in favor a fantastical cross between The Sands of Time, Ico and Zelda."
Prince of Persia has had an excellent run (not including the PSP games and the unspeakable Port of the last from the trilogy for the Wii). Hopefully, the Next-Gen version of Prince of Persia will be able to pull the reputation and weight that the previous games have done. But hearing that the new trilogy is a prequel, that might be hard to do because he'll most likely be on the younger side like the first game, the Sands of Time.