Who says this has to come from the desktop/laptop hardware side of things? They make the fastest and more powerful mobile chipsets (including GPU) right now...
Mobile chipsets can barely support 1080p 2D 60FPS.
You want to support >1080p 3D graphics projected onto the real world with VERY harsh latency limits (human sensory). Modern GPU's that eat more than 100watts and have terraflops of compute power are only starting to offer the compute speeds VR needs.
With Moore's Law ending I don't see mobile ever being able to render VR settings to a sufficient degree.
I am more akin to believing the phone will automatically sync with whatever AR equipment you have and that will do the processing, like hooking up my laptop to the projector.
This is a 4/5 year development project. And that's being optimistic. On top of that, I'm not sure AR needs that kind of power. It's not VR. Just needs to display some objects and text on field of vision.
Hololens, for example, it's far from being a powerful machine and seems to do it just fine. Obviously we are talking about taking the first steps in a field that is still in development. it's not going to be perfect at first.
