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Well, Vita is in a really bad shape, but Sony is trying hard with what they got to make a good holiday season.
They announced the cross-buy option, a lot of new bundles, including Call Of Duty and Assassin's Creed ones, so I believe it will do decent numbers this winter.

We can't say that is truely dead, but we're near there. Sales are really low and there's no hype or interest around the machine itself. Maybe Call Of Duty and the other titles available this fall will change the situation.