Back in June one of the things many consumers wanted to hear during Sony's E3 press conference was that the company had finally given in to the idea that the PS Vita hand-held was just too expensive. The PS Vita retails for right around the price of a brand new PlayStation 3 console. Unfortunately we didn't hear Sony say those words then and it hasn't indicated it has any plans in the future to slash the price of the hand-held.
Ultimately that means if you want to get a PS Vita at a reasonable price you have to wait for a decent sale to roll around, and according to a leaked ad, Target will offer just such a sale.
According to a leaked Target sales flyer posted on Bluray Forums (registration required), all PlayStation Vita systems will be marked down to $199 at Target beginning August 18 through August 24. Target has not confirmed the validity of this ad.
Sony cut the price of PS Vita in Japan in February, but said in February that North America wouldn't be getting the same treatment. At the time Sony Worldwide Studios president Shuhei Yoshida said that decisions about price drops are made on a region-by-region basis.
You can check out the ad below: