The Steam Deck 2 is not expected to be released anytime soon, as Valve has confirmed they will not be doing annual or incremental updates to the Steam Deck. Instead, they are waiting for a "generational leap" in compute performance before releasing the next version of their handheld gaming PC.
Specifically, Valve designer Lawrence Yang stated that they "are not going to do a bump every year" as they feel it would be "not really fair to your customers to come out with something so soon that's only incrementally better." Instead, they "really do want to wait for a generational leap in compute without sacrificing battery life before we ship the real second generation of Steam Deck."
This means the Steam Deck 2 is likely at least a year or more away, as Valve wants to ensure the next version offers a significant upgrade in performance rather than minor iterative changes. They are prioritizing delivering a meaningful generational leap for customers over releasing annual updates.
Steam Deck™
Steam Deck™ is the most powerful, full-featured gaming handheld in the world.
Valve may be right to wait for a Steam Deck 'generational leap', but it ultimately risks being left behind
Valve isn't planning any new Steam Deck models until a "generational leap in compute" is available that doesn't sacrifice battery life.
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