Sony will stop production of the PlayStation Vita in Japan in 2019. From then on, only copies will be sold that have already been made, until the consoles are finished. Sony does not currently have plans for a new handheld.
In an interview with the Japanese Famitsu Sony says that production ends in Japan. Presumably, this means that the handheld will no longer be made from next year. All activities around the PlayStation Vita have been low for years. Earlier this year, Sony confirmed to stop with the production of physical games for the Vita. That would happen in the course of the financial year that runs until March 2019.
Sony released the PlayStation Vita handheld in Japan in 2011 and in mid-2012 the console was released in the Benelux. The first version had an OLED screen, but in 2013 there was a thinner and lighter successor with an LCD. That model came out in the Benelux for 199 euros in 2014.