If I could turn back time, I would've:

Priced the system at $299 and included 32GB of flash storage.

Secured games like:
Final Fantasy Type 0,
Grand Turismo,
Jack and Daxter 4
Morrowind Remastered

way before the system was even out. Funded a COD port instead of a rushed mess of a game. Given more resources to the PSVita versus the PS3 which was already a success in 2011. That means taking money from titles like Starhawk, Sly Cooper, Ratchet and Clank All 4 One, Q force and God of War Ascension and putting those resources into big Vita projects with 3rd parties like Final Fantasy 5 remake, GTA and some new stuff like a pokemon inspired RPG.

I remember making a thread about it a while ago and people were like ''sony would never do that''. Yeah because they were short sighted. Sacrificing some software revenue on potential PS3 games was a necessity to make the Vita more profitable, it would pay itself back in the long run and they'd already spend billions of RnD, they might as well spend a bit more to make the most of that endevour which they've already embarked on. Instead they continued to give Vita their B/C teams (aside from Media Molecule) and let it go months without any notable software releases. Essentially the Wii U but without Mario to back it up.

There were some market stuff out of sonys hands, but they could have doubled its success compared to what we see today.