One thing several people were hoping for from the Sony PlayStation event last night (early this morning, depending on your locale) was an announcement of a price cut for the Vita. One such price cut was already announced in Japan, so it would make sense that a similar cut would be made elsewhere.
Not so, my friends. Shuhei Yoshida told Joystiq that the Vita will not see a price cut right now. He explained that the exchange rate was the reason, which is something Nintendo has complained about as well.
It will probably go down eventually, say like around the time of the PS4's release, since the Vita will have remote play capabilities. You know they want people to own both for at least that reason.