Source is KeplerL2, who is generally considered a reliable source for insider hardware info, particularly on AMD GPU hardware and AMD SoC for consoles.
Previously I would have personally estimated Steam Deck 2 to release mid 2026-early 2027, but the recent info about an upcoming Steam Machine made me think that maybe I should push back that estimate.
Of course even if we assume this is reliable insider info, a lot can change in couple years, so things can definitely change.
It will never be “end of life”. There are retro consoles that people are buying just for running SNES or GameBoy Advance games. Even those are perfectly functional for their purpose. Even if the Steam Deck got hard locked to only run games released up till 2025, it will still have enduring value. EoL can mean the battery is too degraded, but the battery is replaceable.
A “soft EoL” will realistically come when much much faster hardware is cheaper, the Steam Deck is out of production and it starts struggling to play even indie games. At this point, buying a secondhand Deck for £100 is still going to be a bargain and get recommended for emulators, retro gamers and patient gamers.
Fair, I was mostly referring to needing an update because a few games I want to play on the deck need it.