Some – but not all – PlayStation Vita owners are reporting that the latest firmware update is causing issues with the console. The firmware, which removed Facebook from PS Vita and PS Vita TV, seems to have stopped some users access the PlayStation Store and other PSN features.
Stuck on the “Please Wait…” screen. Happened as soon as I updated my firmware. I can see friend requests, and I’m getting certain updates, but the playstation store won’t load. I have other internet connectivity, and even the scrolling ads on the Storefront open, but actually trying to open the store doesn’t work.
Sony have yet to respond to the issue, if you haven’t updated then it may be worth holding off till the issues are resolved.