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My goodness, no. Sony has already attempted to compete with Nintendo with the portable gaming market and failed twice, with their recent attempt being blown away. The Vita was the vastly superior system to the 3DS in terms of specs, performance, etc. It failed miserably. Portable gamers just aren't interested in high specification systems like the home console gamers are.

Sony should just continue to pour their money into dominating more and more of the home console market. Leave the portable market to cellphones, tablets, and the 3DS/Switch.