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Hm.. I wonder how the Vita had played out if Sony had released the handheld itself along with a mid tier and a high end smartphone with Vita compatibility (and an easy to attach/detach controller attachment - probably needs to cover the back for the back touch pad capabilities - needs to come with the smartphones "for free"). These smartphones probably would need yearly refreshes.

In my opinion the main difficulty handheld consoles face is that people don't want to carry around more devices than their smartphones.