The PlayStation Vita (codenamed Next Generation Portable or NGP for short) is a video game handheld system by Sony, the successor to the PlayStation Portable, and the main competitor of the Nintendo 3DS. Its predecessor, the PSP, rivaled with the Nintendo DS as a seventh generation handheld. The PlayStation Vita continues that rivalry, this time, against the Nintendo 3DS.
It was released December 17, 2011 in Japan, February 15, 2012 in North America, for those who purchased the First Edition Bundle, February 22 in America and Europe regularly, and February 23 in Australia in two models, one being a Wi-Fi only model costing $249 (like the 3DS at its launch), while the other is a 3G model costing $299, except for Canada, where the system was released on April 1, 3G version only.        
At Gamescom 2013, the system received a price cut to $199 and €199, in North America and Europe, respectively.  During Sony's pre-Tokyo Game Show conference on September 9, 2013, they announced a new model of the Vita, featuring an LCD screen, which will be released October 10 in Japan, and a new home console version, named the PlayStation Vita TV, which allows Vita games to be played on a TV using a DualShock 3 and will be released November 14 in Japan.  
Rumors of a successor to the PSP began around July 7, 2009. Eurogamer was reporting that Sony was working on the PSP's successor, which would use the PowerVR SGX543MP processor and perform at the same level as the original Xbox.  In addition on July 7, 2010, a report by the Wall Street Journal revealed that a new portable device is currently in development by Sony and that it "shares characteristics of game machines, e-book readers and netbook computers". 
PlayStation Meeting unveiling
The device, then known by its codename Next Generation Portable (NGP for short), was announced on January 27, 2011 at the "PlayStation Meeting" in Japan by Sony Computer Entertainment president Kazuo Hirai. The last time the name "PlayStation Meeting" had been used was in 2005 where Sony outlined the launch plans for the PlayStation 3. In addition, MCV claimed that Sony has told publishers that the device would be "as powerful as the PlayStation 3". Sony later denied this, with the SCEA platform research manager stating "Well, it's not going to run at 2 GHz because the battery would last five minutes and it would probably set fire to your pants". Sony also revealed that the device would be using a mix of retail and digital distribution of games and that Sony would gradually reveal more details during Game Developers Conference 2011 and E3 2011.
On June 6, 2011, at E3 2011, the system's final name was revealed: the system was now officially called the PlayStation Vita. "Vita" comes from the latin word meaning "life." The portable itself enables a combination of augmented reality gaming and social connectivity, along with the "Near" and "Party" services.
Tokyo Game Show 2011
Following the Tokyo Game Show, Sony World Wide Studios president Shuhei Yoshida confirmed that the console would be region-free. Supposedly, due to the 2011 Japan Earthquake, it would highly negatively effect the Vita's launch in other territories. Sony representative Satoshi Fukuoka said he expects "no impact from the quake on our launch plan".
The system boasts HD graphics, almost similar to that of the PlayStation 3, which is a competitor of the Wii, as well as a 5-inch OLED multi-touch screen, as well as a touch pad on the back, cameras, a gyroscope, and dual analog sticks, along with the traditional D-pad and square, triangle, O, and X buttons, shoulder buttons, and start, select, and home buttons.
- Uncharted: Golden Abyss
- Little Big Planet Vita
- Street Fighter X Tekken
- Ultimate Marvel vs Capcom 3
- Metal Gear Solid HD Collection 
- Final Fantasy X HD 
- Gravity Rush
- Mortal Kombat
- Assassin's Creed III: Liberation
- PlayStation All-Stars Battle Royale
As of June 30, 2012, the PlayStation Vita has sold over 2.2 million units worldwide. Due to a price drop in Japan on February 28, 2013, the sales of the system have been skyhigh, surpassing the Wii U. It even outsold its competitor, the Nintendo 3DS, for the first time.
In reviews, gaming critics and PlayStation fans alike have praised the system overall. They commended its hardware, saying almost to the level of its console brother, the PlayStation 3, intuitive control schemes, its 5 inch OLED multi-touch display, and games. IGN gave the system a 8.5, praising all of the features and capabilities of what the system can do, but criticized the expensive price tag of the system, as well as the high pricing of the proprietery memory cards.
Despite the praise for the hardware design, many have questioned the PS Vita's viability (along with other handheld gaming consoles such as the Nintendo 3DS XL) due to the emergence of game-capable smartphones and tablets. Also, the PS Vita was placed in a Yahoo! video game shopper's Top 10 Biggest Technology Flops of 2012, saying it lacked a killer app (as in a game that would persuade people to go out and buy a PS Vita for).