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An iPad Air 2 with a 2048x1536 resolution 10-inch display and a blazing fast A8 processor with 2GB of RAM costs Apple $278 approximately to make.

A $300 Nintendo portable better perform sexual favors for you, lol.

Seriously I don't think Nintendo would go over $250, probably $230 is the max. Even at that price point, provided they are OK with selling it a low profit margin at first (profit margin will rise as mass production does anyway) they could have something that destroys the Vita. As in completely demolishes it.

Again though I don't view the next Nintendo handheld as the "4DS". This will be a new product line and a new product family, not "the new DS".