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CPU is an OMAP4, dual core A9 at 2x1GHz. The CPU is pretty good and can e.g. encode/decode full HD easily. RAM should be 1GB which the new iPhone is rumoured to come out with, so it should be good for 2-3 years...

In total the HW platform is pretty solid, it's not a relabeled cheap Chinese tablet...

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RAM is actually 512MB. Which is rather low by today's standards. But as long as they strip the Android OS to run only what is needed, not like the bloated crap that's coming from the major carriers, it should be enough for most cases.

That's what the iPad 2 has and it doesn't seem tight on memory.

I believe these chips can decode full HD in realtime because they have hardware acceleration for this. Remember, not even an intel dual core @ 1ghz could decode full HD in software in realtime.

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