While speaking with Michael Denny, Sony's Vice President of Sony Worldwide Studios Europe, IGN learned that, to the best of his knowledge, Playstation Vita will be region-free.
This isn't exactly a strange move for Sony. They also didn't apply any region restrictions to Playstation 3 and PSP, except in the case of movies and Playstation 1 and 2 games. Should this pan out up to the portable's release, it's definitely great news for importers all over the globe.
Playstation Vita is due out this holiday season at two price points. $249.99 for the WiFi only unit, and $299.99 for the 3G-equipped model.