Microsoft is confirming today that it’s working on a next-gen Xbox console in partnership with AMD. Xbox president Sarah Bond made the announcement in a minute-long video posted to YouTube, promising to deliver “an Xbox experience not locked to a single store or tied to one device.”

If recent reports are true, we likely won't be seeing Microsoft's next-generation Xbox console until 2027 at the earliest. But that hasn't stopped the company from teasing a couple of details - including backward compatibility and vague handheld allusions - as it announces a partnership with AMD to co-engineer the bits inside.