Lifting state up in React Native means moving shared state to a common parent component. This helps avoid duplicated state and keeps UI consistent. However, it can cause more components to re-render when the state changes, which may reduce frame rates if not managed well. Typically, if you lift state too high, many child components update unnecessarily, causing jank or dropped frames below 60fps.
Memory use is usually stable, but excessive re-renders can increase CPU load and battery use. Keep state minimal and focused to maintain smooth UI and save battery life.