Mobile has already surpassed PS3/360 so yeah, it's definitely going to be at PS4 by next year.
Epic's Unreal Engine 4 'Rivalry' project demonstrated at Google I/O shows what's possible when PC-class gaming technologies and performance are brought to mobile devices. In less than three weeks we ported content built for high-end PC and the DirectX 11 graphics API to Android and Google's AEP (Android Extension Pack) extensions for ES 3.1. Developers can deliver incredible graphical complexity on a mobile chipset thanks to K1 and AEP!
Besides, the leap from PS3 to PS4 isn't that impressive.