Sony plans to release its latest failure into the portable market, the Playstation Vita, in February of 2012, as announced at a recent tech conference. The Japan release is scheduled for December. The Vita, which lacks the 3D technology of Nintendo’s 3DS system, will cost nearly twice as much at 300$ for the version with wireless connectivity. Also, the Vita will compete directly with smartphones, such as the iPhone, which sounds like a wonderful idea. Expect much pointing and laughing from the gaming community early next year. CNN has the story.