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The truth is even in Japan it's not selling anywhere close to the PSP and it's pretty much the biggest hardware bomb in North America since the Sega Saturn or Virtual Boy (take your pick). Euro numbers are mediocre too.

My guess is no. What would a successor to the Vita even be? Low scale PS4 graphics would still be incredibly expensive ... how are developers supposed to turn a profit on such a device?

If Sony was smart they'd just make an Xperia phone with the Vita chip.