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I just don't think you're going to convince anyone over the age of 16 outside a handful of enthusiast gamers (who make a lot of noise on message boards but in actuality are a tiny, small niche crowd) to carry around a large game-centric handheld anymore.

The world of consumer electronics has changed too much. In the age of skinny jeans and iPhones and Samsung Galaxies, the game handheld is a dying dinosaur. 

I think next year will be even worse in some ways for Vita because a lot of the attention is going to shift to the shiny new PS4/720 consoles for hardcore players (and there goes the "close to console quality graphics" card out the window). How much attention is the Vita likely to get at E3 2013 for example? Will be completely trampled by the PS4.