Announced by Sony Interactive Entertainment SVP Hiroyuki Oda via a report from Famitsu (via Engadget), it appears that the production of the console in Japan will be coming to an end in 2019. This means that soon existing stock will be depleted and according to Oda, there are no plans to launch a successor.
This means that as far as we know, this is pretty much the end of the PS Vita as we know it. Earlier this year Sony’s American and European divisions had also announced that they would be ending production of physical Vita games in 2019, which sounds like Sony is indeed wrapping everything up.
However note that the production ending is for Japan, which means that it is possible that the console could continue to be made for other markets. However even then it doesn’t seem like Sony wants to invest too much time and resources into it anymore, so don’t get your hopes up just yet.