The price PlayStation Vita's price has dropped to $199 in North America and 199EU. It takes effect immediately. Sony also has promised to "make significant reductions" in the price of memory cards in both regions.
In 2012, the North America launch price for the 3G Vita was $299, while the WiFi model was launched with a $249 price. Sony cut the price of the handheld in Japan back in February. The Nintendo 3DS XL also retails for $199 in North America.
Source: Kotaku