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i see videos on YouTube that they play any games such as subway surfers with no lags on xperia e and their phone is on version 4.0.4
but my xperia e on version 4.1.1 very lags when playing subway surfers
(when i brought my xperia e , its already on version 4.1.1 so i dont know the performance of version 4.0.4)
If you're having performance problems with games you may want to check out this topic.
http://talk.sonymobile.com/t5/FAQ/Does-your-phone-feel-slow-and-laggy/m-p/347824#U347824
Also the concerned game may need optimization for the Android version or hardware.