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Hard to believe they cut the price world wide by that much so soon, even if the 3DS was not selling all that well. So i doubt that this was done to hurt the Vita, a $30 to $50 cut or even heavy bundling would have suffice if that was the case.
It seems very desperate, but good luck to them for our sake i hope this pays off because the last company we need hurting in the hand held bizz is Nintendo, their downturn could crash the handheld market.