In an interview with Nikkei Electronics, Sony Computer Entertainment CEO Andrew House noted that Sony went for LCD on the new PS Vita due to the fact that it has an image quality that is as good as that of the OLED panel and it also allowed them to make the PS Vita thinner, lighter and with more battery life.
According to Andrew House, "The main reason is that the LCD panel can now realise an image quality as high as that of the OLED panel". He also noted that by using LCD, it was easier for Sony to reduce the overall thickness of the new PS Vita by 20 percent and make it even 15 percent lighter. The LCD screen on the new PS Vita is also the reason behind an hour longer battery on the new PS Vita as well.
Of course, the LCD is also quite cheaper than the OLED and much easier to mass produce, which makes sense considering that Sony wants its PS Vita to be affordable.
Unfortunately, we still do not have the launch date for any other part of the world except Japan, which will get it on October 10th.
Source:
nikkeibp.co.jp,
via Pocket-lint.com.