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There are two things I consider for a console to be next gen.

1. Is it a follow up to a previous gen console?

2. Is it a considerable upgrade from the best of the last gen?

If a console fits just one of these I consider it next gen. For example the Wii U fits one of these so it's next gen.

 

EDIT: PCs, Handhelds, Smart Phones/Tablets have their own generations completely seperate from home consoles.