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I don't think it is technologically impossible a few years down the line, but making a tablet will raise more issues

If you are selling it as a tablet console, then I think many will expect non-gaming tablet functionality, which will add costs. I also think that even a few years down the line, the costs will be too high

An iPad Air can maybe match PS3/360 graphics, but that's £400 vs consoles sold for just over £100. It will need another few iterations before it can match the Wii U's graphics and then it will still be nearly triple the price of a Wii U!

I think it is a clever idea, especially if you essentially reversed the concept and released the Wii U tablet with a streaming box peripheral to get the images on the TV (maybe a disc drive attached to that for backwards compatibility). But just too expensive