NX is about to release and it'll be the next big thing, what Sony should do is what until rumors start popping up about Nintendo's next big portable console as the NX portable sales start to dwindle, that's when Sony should launch their next portable. A good two years on the market before Nintendo with a portable console that's guaranteed to be more powerful and more reasonably priced for what you're actually getting under the hood.
Competing with sales of a dying console is much easier than competing with the sales of a brand new console like the Vita was competing against. Doesn't help that the NIntendo 3DS console dropped in price within the first year, making peoples assumption the same would happen to the Vita if they kept waiting. People who thought CFW would hit the Vita so waiting for that, and developers who were at first too afraid to develop for the Vita because of low sales in the US as perceived at the end of the PSPs life, something the rampant piracy was a problem with, caused by the CFW on the PSP in the first place..
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