Sony looks to PlayStation to rejuvenate its struggling smartphone division, which lags rivals in an expanding market. (PHOTO CREDIT: Sony)

Sony, which has fallen behind in the rapidly expanding global smartphone market, on Thursday announced a new flagship smartphone called Xperia Z3v, which has the ability to stream PlayStation 4 games. The new handset will be available in the U.S. at Verizon Wireless stores starting Oct. 23.

The new Xperia Z3v features a 5.2-inch display and a waterproof