Sony plans to begin sales of the PlayStation Vita portable player in the U.S. and Europe next year, Sony's Kazuo Hirai told reporters in Tokyo today.

The product will launch in Japan before the end of December, followed by introductions in the U.S. and Europe early next year, Sony's executive added.

The Vita has a 5-inch display and touch pads at the back and will be offered from $249 in the U.S., Sony said in June. That's $80 more than Nintendo's 3-D portable player after the price cut.

Sony also needs to be more aggressive in reducing costs, Hirai said. The company said this week it's preparing to overhaul the unprofitable TV business to reduce costs and become more competitive. However, Sony does not plan to shrink its TV business neither to abolish its LCD joint venture with Samsung.