An update to the PlayStation Vita system software was released on February 8th, 2012. You can use this to update your system software to version 1.60.
A PS Vita system software update is required to use PlayStation Network features and some features on the system. Also, downloading and installing the PS Vita system software update will update your PS Vita system’s operating system to include the latest security patches, as well as new and revised applications, features, and settings. It is recommended that you always maintain your system to use the latest version of the system software.
Main features in system software update version 1.60 after the jump: