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There's still the issue of thermal transfer, which remains a barrier in processing performance.

I find it pretty remarkable that mobile devices powered by SoCs continue to make the leaps and bounds that they have shown since the original iPhone considering that all iOS devices are passively cooled without the aid of any fans, or even heat sinks.

By contrast, the PS4 and XBO use SoC, albeit with 8 cores and integrated GPUs that are functionally discrete GPUs, performance-wise, that require significant cooling solutions (traditional heat sinks, cooling pipes and CPU fans) and are dependent upon proper airflow to function reliably.

Both have 8 GB memory whereas Android devices top out at 2 GB, with the upcoming S6 rumored to have 3 GB. Texture memory is not something that can be overlooked when it comes to graphical ceilings in mobile devices.

At any rate, the gap continues to shrink, but I see "console gaming" becoming online streaming services via cloud processing before all consoles turn into mobile devices. At that point the internals of a mobile device will be in the mini-console that plugs into whatever HDTV is being used and processing the UI instructions from whatever controller is the standard. Mobile type games could be local content, but PC type games would be handled remotely and streamed.