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Yeah I could see Sony allowing the Vita to limp along well into the PS4's life cycle. I don't think they'll be releasing another handheld any time soon. It seems like the Vita is at least somewhat profitable for Sony and it is still selling so the number of units will still continue to grow and as it does it will become more attractive to developers as it still has plenty of power to make great games on.

Plus, with PS4 games having to be remote playable it is still a very integral part of the PS ecosystem. It is gonna be around for sometime despite it not being the barn-burning seller the PSP was.