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Sony's Japanese website has confirmed that production on the PlayStation Vita has finally ceased. We knew this was going to happen sooner or later, we just didn't know exactly when.
The website (via Gematsu) lists 'shipments ended' for the last two remaining PS Vita models, meaning no more systems are rolling off production lines. The handheld launched in Japan back in December 2011, so it had a decent run. PS Vita came out in the US and UK the following spring.
Sony had a pretty strong lineup for PS Vita during its first 18 months or so, with games like Uncharted: Golden Abyss, Killzone: Mercenary, Tearaway, and others offering console-quality, on-the-go experiences.
However, things soon dried up and by the time PS4 came around PS Vita was largely marketed as a companion device for Remote Play and indie games.
Sony has no immediate plans for a successor.