These days anyone can make a phone, a TV, or a laptop. Sony still makes great devices, but it's all cut-throat. They need to evolve into new technologies and services if they want to stay profitable. It seems like a good move to focus on the PlayStation brand and consolidating services.
I see things going in two directions for gaming. One is the PlayStation Now gaming-as-a-service streaming. As well as incorporating music, video, TV, etc. They can sell a subscription as well as rentals, and instead of having to launch new consoles every so often for a new generation, they'll be able to gradually upgrade the hardware server-side as games and developers demand it.
But that's dependent on a robust global Internet infrastructure, which won't be there for a while. On the other hand, VR is also developing which is going to benefit from powerful local hardware to achieve low latency with high end graphics. So Sony's next home console may be focused on VR (as long as Morpheus / Oculus don't flop) with the PS1-PS4 library streamed through PS Now.
I would love to see the Vita merge with the Z3 and the PS4 (streaming) somehow. The main concern is adding L2 / R2 triggers and keeping the analog sticks, while making it pocketable. With phones like the iPhone 6+ people are already used to carrying huge phones, and the Vita can be pocketable already depending on the pants, so I think it could be done. I'd like to see Sony pwn the mobile gaming market with real, good quality games that require buttons, instead of the current low effort touch screen games. That should also help them compete with Nintendo.
I think they were trying to head in that direction with the 3G Vita, and they've made devices like the Xperia Play, so I hope they go in that direction again with one device to rule them all.
Personally I barely make phone calls, and I would like a device that plays Vita and PS4 / PS Now games and connects to the Internet for VOIP instead of paying for a phone plan, text messaging, etc. (as well as functioning for playing music, taking photos, reading e-books, etc.)
Anyway, TVs, phones, and laptops are pretty old technology at this stage so there's not much room for profit. Time to move on to new things.