Consoles War, Why PS Vita Failed?

Sony had made some really good gaming consoles over the time, the nostalgic PS One and PS2 are the most mention-able gaming consoles.In the portable tier sony had introduced PSP which had reached its boom but why its successor PS Vita failed So badly, Lets take a look.

PS Vita had the features that were a way ahead of its time and one of them was the 5" Capacitive Touch Screen.
Its direct competitor Nintendo 3DS also had a touchscreen that some people may refer to be giltchy.The Screen and Graphics quality was way better than the portable consoles at that time.But still it failed very badly than its biggest competitor.

SONY had sold about 16 Million Units of PS Vita while Nintendo Sold 64 Million Units of 3DS and still counting.

The PS Vita sure had better specs and graphics than the Nintendo 3DS but these don't matter if you didn't have enough gaming titles.PS Vita had no backward compatibility while 3DS was Backward compatible with the predecessor the Nintendo DS line and its software.
As the saying goes, "Not specs but Software makes a good system".It really applied on this scenario the PS Vita was not taking advantage of its specs and technology while Nintendo got the developers to develop good titles just in time.

Another issue was the proprietary PS Vita cards from Sony that were used to store games and other media were a lot expensive than other storage media at that time.

The portable gaming industry was really threatened by the boom of smartphones industry, Nowadays a smartphone is more powerful than the most portable gaming consoles ever existed not only that but smartphones have a vast gaming titles that are as good as consoles game. As smartphones are now the future of Gaming we will see how does the Nintendo Switch competes with this trend.