A rumor suggested that Microsoft might be nearly ready to launch a Chromecast-like game streaming stick.

The company has now confirmed that such a device (codenamed Keystone) exists but it is not known when it will arrive.

As announced in last year, we’ve been working on a game-streaming device, codename Keystone.

It could be connected to any TV or monitor without the need for a console," a Microsoft spokesperson told Windows Central.

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.

Last year, Microsoft confirmed that it was making Xbox video game streaming sticks and baking the technology into Smart TVs.

Microsoft is careful about its own streaming device, so it doesn't look like a launch is in the near future after all.