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NATO said:
Teeqoz said:

"Heck, just look at Japan, same thing going on there. The PS4 launched with twice as much as the PSP, but the PSP sold at least twice as much as the PS4 will lifetime."

 

The PSP sold 20 million in Japan. You might want to realize that the PS4 has sold less than 4.5 million in Japan so far.

My bad, read it but didn't click for whatever reason, but In that case you need to also consider the following:

PSP average RRP in Japan: 17,800 yen.
PS4 average RRP in Japan: 39,980 yen.

PSP market period: December 12th 2004 - June 2014 ( 9 years 6 months, 19 days)
PS4 market period: February 22nd 2014 - Present (3 years 14 days)

Certainly isn't going to top 20m but then Japan has historically favored handhelds, however it more than likely will surpass the PS3 in the region, which itself sold 10.45m in Japan, which is more than half.

As for that tendancy to buy portable over home console, for Japan:

US / EU / JP
PS3: 29.41m / 34.51m / 10.45m
360: 49.09m / 25.86 / 1.66m
WIIU: 6.2m / 3.47m / 3.32m

Handheld:
3DS: 20.66m / 17.19m / 22.34m
PSP: 21.41m / 24.14m / 20.01m

Heck, even look at the Wii, Nintendo's highest selling home console of all time:
US: 45.38m, EU: 33.75m, JP: 12.77m

My point was that console launches have gotten bigger without that necesarily translating into lifetime sales.