Speaking to GamesIndustry.Biz, Sony senior vice president of PlayStation brand marketing Guy Longworth states that while sales of the handheld device did not reach the company's initial target, the company expects to create a "long-term sustainable business" for Vita over the coming months and years.
"With Vita, we're only 15 months in to launch and now we think that with PlayStation 4 the opportunity for Vita is to be the absolutely perfect companion to the PS4," he said. "What we're seeing is that once people get it in their hands and buy it, they're buying games and they love it. Now, it's not had as fast a start as we would like, that's common knowledge.
"But we do really believe in that platform and think that is has a significant opportunity. We think there's a number of things that we can do in the coming months and years that will make it a long-term sustainable business."
Despite PS Vita receiving a price cut in Japan, Longworth said Sony is not announcing a North American price cut.
"We're about value, we're trying to offer value," Longworth said. "You saw last night we were in a position we felt the value of the PS4 was very good at $399. With PS Vita we feel that $250 is the right price, and I'm not going to comment on where we might go in the future."
Sony Worldwide Studios president Shuhei Yoshida previously confirmed the handheld device would not receive a price drop similar to Japan's.