Microsoft has confirmed that it is working on a dongle that can stream Xbox services to any TV, Windows Central reported.

There have been rumours circulating about the product for some time, which could serve as Microsoft’s competitor to the Google Stadia or Chromecast. The tech giant first announced last year that it was working on a game streaming device, that could “be connected to any TV or monitor without the need for a console”.

Microsoft confirmed to Windows Central that the product is codenamed “Keystone” and is a modernised HDMI streaming device that can run Xbox’s Game Pass and its Xbox Cloud Gaming services.

However, a Microsoft spokesperson told Windows Central that the company is taking time to update the product before taking it to market.

“As part of any technical journey, we are constantly evaluating our efforts, reviewing our learnings, and ensuring we are bringing value to our customers,” the Microsoft spokesperson said. “We have made the decision to pivot away from the current iteration of the Keystone device.

“We will take our learnings and refocus our efforts on a new approach that will allow us to deliver Xbox Cloud Gaming to more players around the world in the future,”

Microsoft has been making some heavy investments in gaming in recent years, with the sector providing steady growth and income for the tech giant. In April this year, the company’s earnings showed Xbox hardware revenue had a solid quarter, as overall it was reported as the best non-holiday quarter for Xbox revenue.

This was the same quarter when Microsoft announced its next big play in the gaming sector, with plans for a $69bn acquisition of Activision Blizzard.

The software giant has made notable moves in the gaming space in recent years. In March 2021, it got approval from the EU to acquire video game company Bethesda for $7.5bn, in what was its largest ever gaming deal.

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