I'm down with consoles competing for power every other year or so, lets start an arm race and see what happens. And these new TV's look rad, my only issue at the moment (besides lack of money) is that even the best OLED HDR 4K TVs have really high input lag (the TV Jeff is looking at is around 50ms in HDR mode.) If I get a TV like that I want to use it for a big ass monitor as well as my main gaming TV, and I wouldn't want anything with major lag. What I'm saying is, even if money wasn't an issue the OLED HDR TV most of us would want for gaming isn't even available yet. LED is a decent option, but OLED just looks so good.
@fightingfalco: I'm guessing this will only be possible because of AMD's Polaris/Zen architecture, which focuses on bringing crazy powerful GPUs/APUs to the masses at an affordable cost. The recently announced RX 480 has around the power of a GTX 980 @ $200 retail. Soon they will reveal their answer to the $600 GTX 1080 that I imagine will be even cheaper. And the GTX 1080 is already a steal for that much power, it basically does 4k 60 (with a few compromises here and there.) At these prices right now, it's not crazy to see that in a year it will be even cheaper. Now imagine that the biggest customers that AMD has (MS + SONY) decide to work with them to develop these new consoles. They aren't paying what we are for this tech, they are paying less. This is why I think it's totally plausible that they could release a $499ish console that almost keeps up with a $1500 computer of today. Especially if they decide to initially forgo profit per console for market share.
TLDR: GTX 1080 is 4k 60 capable, and a really good price, Polaris/Zen is potentially even cheaper for similar performance, we are talking over a year from now (Moore's Law), and MS and Sony are AMD's biggest customers and are not about to pay newegg prices for components.
Not to mention that you don't need 8 core CPU or 32 Gb of ram to do 4k 60. Quad-core, 16Gb ram and a 980/980ti/1070 sli or a single 1080 will do just fine for now.
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