E3 2011: Sony expects Vita to outsell PSP

Sony Corp. has said it expects PlayStation Vita to turn a profit in under three years, and aims to eclipse PSP’s 70 million life-to-date milestone.

Speaking to Reuters, Kazuo Hirai, president and group CEO of Sony Computer Entertainment Inc. (SCEI), commented, "If we were able to hit that 70 million mark for PlayStation Portable, we want to exceed that both in terms of numbers and timing to get to that number."

Hirai unveiled Vita during Sony’s E3 press conference Tuesday night, confirming the device will retail for $249 and $299 for the lower-spec model and 3G-enabled SKU, respectively.

As for Vita’s chances of topping its predecessor, MF Global analyst Jay Defibaugh certainly feels it's possible.

"I think it's definitely possible, although I don't model that right now, given the bigger emphasis on connectivity," he said. "All things considered, the handheld market has more exposure to the increasing popularity of smartphone-based gaming."

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