When my phone updated itself to Lollipop I noticed a massive performance hit which gave me alot of screen tearing. I fixed it by doing alot of optimizing with textures as my whole project was using the default starter textures (IE: Old Clay Wall) and by stripping all the performance enhancing features out of the material as well as dropping it to 256/512 (squared resolution) brought me back to acceptable performance. It’s really a shame too because one of the key features to my project is multiplayer which effects the projects performance the more people you have in there so Lollipop basically gimped my maximum player count.
I don’t think Lollipop is ready right now. My hope is that they fix these performance issues as I know we’re not the only ones running into issues with it: Reddit - Dive into anything