Valve has already announced that the replacement to the Steam Deck is in the works. A new AMD APU dubbed the "Van Gogh" successor is in the works. 

The new device is said to be a scaled-down version of AMD's Phoenix Point APU, which blends the company's future Zen 4 CPU architecture with the RDNA 3 GPU architecture. The SoC, dubbed "Little Phoenix," is said to have the same amount of processor cores, threads, and compute units as Van Goh. The efficiency increases of Zen 4 and RDNA 3 over Van Goh's Zen 2 RDNA 2 hardware would account for the majority of the performance boost.

Little Phoenix is smaller than Van Gogh, but its CPU can reach speeds of up to GHz, rather than the current model's 3.5 GHz. The new hardware will also have a 128-bit LPDDR controller, but it's unclear if Valve will remain with the LPDDR5 RAM from the first Steam Deck or upgrade to LPDDR5X. According to Moore's Law is Dead, a new Little Phoenix-based Steam Deck might emerge late next year, or as early as 2024. Demand for the current Steam Deck continues to surpass supply, thus Valve has little incentive to make a decision for the time being.

AMD APU for Steam Deck 2 would get Zen 4 and RDNA 3