Sony potentially working on a PlayStation Vita 2

According to recent reports, the PlayStation VR 2 isn't doing particularly well, and industry analysts are already calling for a price cut.

It's hard to blame Sony for doubling down on the VR market after the PS VR exceeded their expectations. It's just that Sony shouldn't forget that its handheld consoles didn't do too badly. The PlayStation Vita might have been a commercial flop, but it was a fan favorite that still ended up selling at least 10 million units. More importantly, the PlayStation Portable sold 80 million units, which makes it either the tenth-best or eleventh-best-selling console in history, depending on who you're asking.

These are numbers that Sony shouldn't ignore and it probably isn't.

Sony is probably thinking of the handheld market as well with its cloud-streaming console. Even though PlayStation Plus Premium isn't available in all countries, it's already out in Sony's biggest markets. A wider rollout could coincide with the release of the still-unconfirmed cloud-streaming handheld, which could then take advantage of PS Plus Premium - the most expensive membership tier that grants audiences access to a wide library of PS4 games and older titles from the PS1, PS2, and even the PS3.

If priced right, this hypothetical G Cloud competitor could open the door for Sony to release a Steam Deck competitor in the future without costing them too much.

Sony is more than willing to take a hit with its console pricing since it can make back the money from subscriptions, among other things. Going all in on the revamped PS Plus is an interesting route for Sony to take and one that could prove fruitful. Besides, while most would love Sony to take on Valve and Nintendo in the handheld department, is it necessary? We aren't at a point where game-streaming doesn't require need powerful and dedicated mobile hardware to play yet but it could get there.

A cloud-streaming console allows Sony to leverage the one thing that it's always had going for itself - its treasure trove of exclusive titles.

Ultimately, this is all speculation as Sony is yet to confirm if it's working on new hardware. If it's true that the PSVR2 didn't sell well, Sony might hesitate to announce anything new that isn't related to the PS5. Of course, all the rumors about Sony's new hardware outside of the PS5 Pro, which, by the way, is reportedly still in development, is bound to be addressed. We're just banking on it happening later rather than sooner.

In other news, Sony has recently been accused of anti-competitive practices in the United States while Activision Blizzard has called the company out for its "disappointing behavior." Finally, the earlier leaks about the PS5 Slim turned out to be a hoax.