Sony can still salvage the Vita in the west...and here's how

[Groundking]

Re-design the vita so that micro-SD cards work with it (micro-sd cards are more than twice as cheap as sony's shit)
Have 4 and 8gb internal memory sku's
Get the play store on the device, whilst including a re-desined OS, the current one is fine, but it could be better.
Do some easy ports from the ps3 library (Puppeteer, GT6 but only the premium cars, and don't call it GT6, LBP Karting)
Set up a couple of studios that dedicate themselves to making portable titles
Cut the price to $150 and equivalent world wide.
Chuck some money at Rockstar for PSV GTA
Chuck some money at Square for a Kingdom Hearts game and Type-0 port
Chuck some money at Capcom for a couple of monster hunter games
Chuck some money at Activision and Ubisoft again for another COD and AC, both will become million sellers this year, can't imagine it would take much persuading to get both companies to create for the Vita again.
Get SCE Japan making a Ape Escape Vita, something I think would work well on the handheld, especially now that there's due analogue sticks
Create some limited bundles with the ps4 + ps3 (say Assassins creed 4+Liberations, PS4, PSV and a year of PS+ at $550)

Finaly the most important thing of all is some advertising, I mean FFS you had two first party games out this past year that did well critically and you didn't advertise them for shit, likewise with LBP Vita when that came out, it's now at nearly 700k thanks to fantastic legs due to good word of mouth. If it was given a good advertising campaign we'd perhaps see the Vita a couple hundred k further along and LBP Vita nearer 1million by now.