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Soundwave said:
It's a Vita chipset thrown into a box for $100 or so. It plays Vita games + streamed PSNow stuff + PSOne/PSP classics.

To be honest if Nintendo had something similar I think it would perform a lot better (3DS/DS/GBA/SNES/NES games + streamed Wii U titles for a $100 box?). Sony just doesn't have the "horses" to push this concept as their handheld division is much weaker.

This, more or less... imagine smash bros and mario kart on this thing.