1) It's to high-end to begin with. The price is a problem, they should bring the 2000 model to West and give it a good price cut, close to US$ 150 (and they can, the current 2000 is probably selling with profit in Japan). Despite the OLED screen looking amazing, the LCD model is cheaper and would be more adequate.
2) The memory cards are to expensive and the digital games are pretty huge. It's easy to find games with 3 or 4GB. I've had a 8GB card and it was completely useless after 2 digital games. Even the 32 GB one isn't that big. It's a combination of huge games with expensive memory cards.
3) PS4 push. They need a PS4 + Vita bundle for US$ 500.
4) They should push it on Europe. US numbers are a disaster, Japan ones are more decent but it's because they are pushing it with everything there. EU frequently does better numbers than Japan and they aren't even trying there. A push on EU could help.
5) Outiside Japan, their advertisement is horrible regarding Vita.
