Despite earlier "reports" claiming that the Vita's RAM allotment had been cut to 256MB due to budget constraints, a fresh spec sheet released by Sony Computer Entertainment lists the Vita as being equipped with 512MB RAM.
In addition, the Vita boasts a quad-core ARM Cortex-A9 and a SGX543MP4+ GPU with 128MB of VRAM. No compromises have been made from the original design spec. A complete run-down of the specifications can be found below:
PlayStation