Speaking to Nikkei's Tech On! blog, Andrew House, the president of Sony Computer Entertainment has revealed the company has no plans for the Vita TV "in the US and European market at this point". The box will be released in Japan first due to there being "no leading company in Japan's video streaming market" then afterwards, China and South Korea.
In particular, Andrew House expressed hopes to find success in the Chinese market for both the Vita TV and other Sony products, primarily due to the expectation that China's ban on home console sales will soon be lifted. He said that even if the ban is dropped in say, the free trade zone in Shanghai that'll be a massive market opportunity for Sony.
Talking about the Vita TV itself, Andrew House said it was a better solution than simply adding HDMI out to the Vita itself, as that wouldn't make it easy for people to play local co-op. On the other hand he argued multiple users connecting up Dualshock 3's was a pretty good experience.
Of course this is an intrinsically awkward experience for developers, as it means they have to split their attention between creating a split screen multiplayer mode for their games which works on Vita TV and one which works on the Vita itself.
If you're rusty on your Vita TV details or hardware specs, check out Dave Cook's excellent write-up here.