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The PSP was re-released in Europe in 2012 with a new model, complete with 1 speaker and no wireless capability, but it's cheap, hence it sells.

The Vita is too expensive to bother with at the moment, and a lot of the people who are interested in a 3DS already own one.

Piracy is arguably easier to do on a PSP than a DS, and it's definitely cheaper, so I imagine there is a pretty high piracy rate.