• Philip Hammond, U.K. chancellor of the exchequer, delivers a speech during the Microsoft Corp. Future Decoded Conference at the ExCel London conference center in London, U.K., on Tuesday, Nov. 1, 2016.

Philip Hammond, U.K. chancellor of the exchequer, delivers a speech during the Microsoft Corp. Future Decoded Conference at the ExCel London conference center in London, U.K., on Tuesday, Nov. 1, 2016. (Photo : Getty Images/ Simon Dawson)

Microsoft is rumored to have canceled the release of the Xbox streaming device. The Xbox streaming gadgets were highly expected to be availed earlier this year.

According to The Verge, executive editor at Petri, Brad Sams, had initially claimed that the devices would be unveiled at E3 back in June, however, the American multinational technology company ended up launching an Xbox One S console and detailed its Project Scorpio plans.

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Following the cancellation of Xbox TV streaming device by Microsoft, an order for 300,000 units was pulled, Windows Central reported. The device, reported to be a streaming stick and codenamed Project Hobart, was rumored to sell at $99.

The Chromecast-like dongle would have let Xbox One owners' stream games wirelessly to another TV as well as view streaming entertainment services. The device was due for production shortly after this year's entertainment expo, according to Windows Central. 

Currently, it is not yet clear what caused the software giant cancel its plans, but the giant has previously shelved gadgets at the last minute. Satya Nadella, Microsoft CEO, is reported to have canceled the Surface Mini at the 11th hour just before its supposedly release at an event in New York City. Instead, Microsoft unveiled the 12-inch Surface Pro 3 at a May 2014 press event and did not mention anything of a Surface Mini.

Microsoft has boasted of a fair bit of success with its hardware offerings in the last year with the Surface line of tablets actually getting a considerable niche and user base much to the excitement of numerous tech writers and analysts. Some weeks ago, the tech-giant also unveiled its Surface Studio which is an absolutely gorgeous foray into the desktop world and a first for Microsoft.

Microsoft fans believe the Surface Studio could steal some thunder from Apple's iMac line with a 28″ display that is a full touch screen. On top of the display, the ability of it to fold down and been drawn on its "under the hood" power makes the Surface Studio even more impressive.