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The biggest problem for Sony is the Nintendo 3DS.

Nintendo will realease it sooner than Sony, it will benefit from the HUGE popularity of the DS, the most sold gaming system ever, they will keep all their big exclusives (Mario, Pokemon, Zelda etc....) and will be supported by the third parties editors with their best 3D franchise.

The only room for the PSP was that the DS could not run PS2 type of graphics so it would get these kind of game. But the 3DS change that and it will take all the best licences from third parties.