The 
PlayStation 4 represents more than just the next generation of gaming for Sony. It could be the flag bearer for the next generation of the 67-year-old company itself.
Sony CEO Kaz Hirai (who formerly ran the PlayStation division) has made it clear that he sees the console as one of the tentpole units that will lead the company back to prosperity. And early indications are that it plans to do that by changing the closed gate philosophy Sony has clung to for so long.
The 
SCEA boss remains optimistic about consoles, says social and free-to-play are just “an additive diversion”
There are a lot of people looking to bury the PS Vita these days. Sales haven’t exactly been blockbuster and the software lineup to date has been so-so, at best.
Even Sony itself has sent some mixed signals. At its pre-E3 press conference in June, the company promised 60 new Vita games this year – then only showcased three over the next hour-and-a-half. Despite that, Sony is telling investors it expects to sell 10 million units this fiscal year (which ends March 31, 2013), largely on the strength of its holiday lineup (which includes PlayStation All Stars: Battle Royale, Assassin’s Creed 3: Liberation and Call of Duty: Black Ops Declassified).
Sony’s efforts to stay competitive in the 
handheld gaming space have hit a snag following the devastating earthquake and tsunami in Japan.
Sony officials say the disasters may delay the release of their NGP handheld, with the system releasing in just one region of the world this year instead of all three. That could give Nintendo and Apple a chance to cement a solid lead in an increasingly competitive space.
Chris Morris: Journalist 