The PSP certainly has its uses—a decent amount of applications, simple internet connectivity, and a huge library of games are just a few of them. Its sales are still relatively strong, but the PS Vita is creeping up on its numbers—not just in the number of handheld units sold, but also in the number of games. The PSP has already reached its peak, and unless you have a very good reason to keep your PSP, it’s time to trade off.
Because the sales numbers for PSP games are beginning to peter out, it’s unlikely that developers will continue to take interest in it. Western shores might see a few translated titles and a few releases which are already in development might get released, but there will be few—if any—new games on the system. What’s more, any new releases will likely be ported to the PSP through PSN or as a direct release. The success of Time Travellers on the Vita compared to the PSP only encourages developers to support ports to the Vita.
On the other hand, the Vita continues to put out high-quality titles and also offers plenty of old ones and PSP games through PSN downloads. The memory cards might be a little pricey, but the games aren’t that expensive in comparison. The new handheld recently had its European price dropped to € 199.97 (about $250), giving it a fairer price. With its huge library of PSN games, high-quality current titles, and several games in development that the public knows about already, selling the PSP and making the jump to the Vita is the most logical choice, especially for any Europeans reading this.
The main disadvantage of switching from the PSP over to the PS Vita is that any physical games you might have bought for the system will have to be repurchased for the next one (unless you own a PSP Go…in which case, why haven’t you sold it yet?). Buying PSN copies of all of your games—if PSN copies of the games are even available—could get pricey for larger collections. Another advantage of the PSP is that, with a little tinkering, you can jailbreak older PSPs. This allows independent software to run on PSPs—something the Vita doesn’t allow.
Unless you’re utilizing those extra features or extra games that the PSP has to offer, there’s little use holding out on selling. The number of games exclusive to the PSP is continuously shrinking as they become available on PSN, developers have more incentive to publish for the PS Vita rather than the PSP, and the PS Vita has the added bonus of better graphics, intuitive apps, touch controls, and higher quality games. I realize you may not want to sell it in order to switch to a PS Vita—maybe you just want the cash, or have decided to do something other than gaming. Whether or not you’re upgrading to the next system, if you intend to trade your handheld console for money at all, now is the time to do it—before it loses all of its value because people have switched over already.