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The PS TV's main benefit is the low cost, especially during sales when it is 40 dollars. And it can play Persona 4: Golden and Dangan Ronpa, which are frankly the only games I care about for the Vita.

PS TV also comes with one gigabyte of internal storage, so if you just use it for saves, you don't need to buy a memory card.

But, with regards to image quality, the PS TV is pretty poor. The original OLED screen has beautiful colors, and the PS TV looks very blown up and jaggy.