Mike Capps, president of Gears of War and Unreal Engine powerhouse Epic, gives one reason why his company isn't yet developing a game for the PlayStation Vita.
Considering he also told GI.biz in an interview, "I'm not sure how well it's going to be accepted in our Western market which is primarily where our games sell", it's fairly clear where the company's opinions on Sony's upcoming handheld lie.
That's not to say there won't be Unreal Engine-powered games on the Vita, because there are. There just isn't one coming from Epic itself. And from the sounds of it, won't be for some time.
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Epic Win [GI.biz]