The PSP continues to be relevant, which is usually the case with a lower price tag and a large library.
According to CVG , worldwide PlayStation Vita sales were at 2.2 million as of June 30, 2012. But the interesting stat was part of Sony's last financial quarter, where it seems the PSP outsold the Vita by a significant 2-to-1 ratio.
The Vita sold around 400,000 units in the April-June quarter and Sony has said the unit is "on track," but they could certainly use more sales. A solid Gamescom showing and several potential AAA titles slated for the fall and 2013 should go a long way toward increasing those numbers. As for the PSP, here's what PlayStation Europe CEO Jim Ryan had to say:
"…we still have a significant PSP business in many markets, which is something that tends to be forgotten."
Yeah, we probably shouldn't forget that.