"Console iterations" refers to the different versions or updates of a gaming console. It indicates the various improvements, changes, or advancements made to the hardware, software, or features of a console over time. Full definition
For me number one reason is, it has to have a huge leap from the last console iteration (visuals / graphics), second are the games, third cost. (n4g.com)
Dragon Ball Z: Extreme Butoden is very different to the latest console iterations of the Dragon Ball Z franchise. (jamiex66.com)
Capcom has stated that the latest console iteration of their survival horror prequel Resident Evil Zero is slated to make its console debut on January 19th 2016. (nonfictiongaming.com)