PS Vita — Sony’s rendition of the PSP, its previously successful handheld gaming console, was released first in Japan in December 2011 and saw a global debut in February 2012. PlayStation Vita started off on a good note, the company managed to sell approximately 1.2 million units and an additional 2 million units of software. The sales steadily dwindled, as on June 30 only 2.2 million PS Vita units were sold, compared to the 3.6 million units Nintendo managed to sell of its Nintendo 3DS, just in the first month.

Given the expensive price tag of USD 300, PS Vita’s gaming lineup was far less than expected, leading to a dismal performance by the handheld console.