Software, software, software.
It's not the tablet/smartphone market (it's expanding, not taking over), it's the fact that Sony created a super high end device with very little developer support or market enthusiasm. Its launch was comparable to PS3, except they never ended up fixing any of their mistakes. The memory sticks are still proprietary and extremely expensive, and they never put much stock into exclusive games for the platform. Don't want to buy a Vita? That's fine, it's also on PS3.








