The concept of handheld consoles are dead. The next couple of years will be sony and nintendo try to milk out every last dime from the Vita and 3DS as the handheld console market dies. Its been slowly coming as phones and application store with thier cheap games and bullshit have run handheld consoles out of the stadium.
Really though it has nothing to do with the games avaliable or what the system/phone can do and it has more to do with what it was designed for. Lets use this example, if i am at work and i decide i want to fluff off and play games all i have to do is pull my phone out of my pocket and play. While i can hear you now “you can just pull out a 3DS or Vita too” yes, i can but if my boss comes around the corner suddenly and sees me holding my Vita to my face im fucked cause he knows im not working. Where as if im holding my phone up like every damn human at any job is it can be instantly played off as writing an email or even texting a loved one with a quick response. Either way thats the end of it and when the boss moves on you are back to games and no one is the wiser. Handheld consoles are dead because they chose not to even try to adapt to a changing landscape.
Imagine if they added phone capabilities to the Vita… i mean hell, most phones are now bigger than a Vita so thats not the big deal. I would throw this Note 3 out in a second for a Vita with 4g and the ability to make calls/text. Its all about the stealth gaming now. People arent going to spend money on a mobile system if they can really only use it at home. Dont get me wrong i lovey Vita, but it would be even more awesome if i could use it for something more.
Unless there is change i dont see the handheld system market lasting beyond the 3DS/Vita era. Which makes me sad cause I have spent the better portion of my life with a true handheld system at my side at all times.