Shorthand for
System
on
Chip.
It's essentially a consensified form of electronics - everything needed for a full working product compartmentalized into one single chip, with a microcontroller that includes the CPU, RAM, ROM and I/O. The SoC is only used for the standard components; on a Smartphone, this means graphics, audio, video and camera processing in addition to the microcontroller circuits. In such cases, only a radio chip and power management chip are required for a three-chip solution.
Essentially, he means that if she'd focused on what current phone hardware was, rather than develop exclusively for IoS, she'd have done better. Indeed, had she focused on making a flexible utility that could run with a somewhat wider variety of electronic devices, it's possible
Revolution 60 would have had much more of a presence. With a few tweaks, she could have had a game that, rather than exclusively be an Apple-only product, could have released in about 4 markets at once (Apple, Android, and the other smaller carriers).
I will reiterate that, to me, Wu resembles nothing so much as a modern version of
Derek Smart, one of the original vidya lolcows.