During E3 2014 earlier, Sony said that the PlayStation TV will be launched in the US, Canada, and Europe this year. I think he said Fall, and it will support the PlayStation Now game streaming service. Now I'm not certain if this is the same as the PS VIta TV that was announced in Tokyo Game Show last year, and it has already been launched in many parts of Asia.
While the PS Vita TV is white in color, this PlayStation TV is in grayish, metallic color, although the dimension and shape look exactly like the PS Vita TV. It will cost US$99 just for the unit, or a US$199 that includes a DualShock3 controller (DS4 would be better I think), an 8GB memory card, a download code for a Lego game, and an HDMI cable.
I have a PS Vita TV at home. Honestly I find not so much use on it yet - all I can play on it is a Mahjong PSP game for now - with that 1GB internal memory. While you can download the YouTube for PS Vita app, it refuses to run on a PS Vita TV. The only app it runs is TuneIn Radio.