Why did Sony abandon the Vita so quickly?

Could you elaborate on the reasons behind Sony's decision to seemingly abandon the Vita so rapidly? Was it due to a lack of consumer interest or were there other factors at play, such as financial struggles or competition from rival gaming platforms? It seems like a significant investment was made in the Vita, so what specifically caused Sony to pull the plug so soon? Understanding the motivations behind this decision could offer valuable insights into the gaming industry and its ever-evolving landscape.