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Farsala said:
The PS mini definitely had a lot more potential, but Sony simply didn't want that. It is likely they cheaped out on the games liscensing and kept it overpriced, so who knows what kind of profit they made. However at $99, it launched to similar revenue to the NES mini.

Yeah looks like Sony went to cash in on launch and make as much revenue as possible. They'll have room to drop the price too.