Ever since 3DS got the emergency price cut, price has been a problem for the Vita.  Though, it's probably only 50% of the problem.  Games are the other 50%.  I expect Sony to deliver on the games, though.  Just started off slow, like with the PS3.

After doing a little research, here's how long it took some consoles to get a price cut (in Japan):
Xbox - 3 months
3DS - 6 months
DSi - 7 months
Sega Saturn - 7 months
Dreamcast - 7 months
PS1 - 8 months
N64 - 9 months
Gamecube - 9 months
GBA - 11 months
PSP Go - 1 year
PS3 - 1 year
PS2 - 1 year 2 months
PSVita - 1 year 2 months

The PSV price cut is comparatively quite late, and not surprising at all if you look at it this way.

Final Fantasy X HD remake looks great. Can't wait to see a release date.

When you look back at how quickly Sony dropped the price of the PS3, which had its first price drop in 8 months in the US and a total of two $100 price cuts on two different models, two discontinued models, and the introduction of a $200 cheaper model - all in the span of one year, it's clear, considering how low Vita's sales are, that Sony didn't take action sooner because their financial state wasn't what it was in 2007.

Still, I really don't foresee this having a profound long-term impact on sales without the combination of the right games, but FFX certainly can't hurt.

Will probably need a slim for major improvements in sales.

The price cut isn't that odd. Both systems are now far cheaper then they were before and that is all that realy matters. The actual 3G chip is not very expensive at all, but ultimately i think the equal pricing is probably because one of the models is about to be discontinued.

Both systems are now ¥19,980. The Wi-Fi model used to cost ¥24,980 and the 3G ¥29,980

There is already big games coming : Soul Sacrifice( an ambitious and original game which seems epic), Killzone ( a solid FPS which seems near to become the best handled FPS ) and TearAway ( the new media molecule IP, an original little open world which seems ambitious in the concept)

And i'm sure we'll have some new announcements soon, like Shahid told me.

Sony makes original and innovating games for their console since the launch, its one of the reason why i prefer VIta over the 3DS

The 3g being the same price as the base model is quite odd.

Either way, I dont expect a sizable bump in sales beyond a few weeks. 3Ds is firmly settled as Japans handheld.

I find it funny that Europeans cry at prices, but they almost never actually pay that full price. Can't find a Vita for less than $250 anywhere in the US.