Two new handheld gaming devices from Asus have surfaced online via an FCC filing—one of which appears to be the long-rumored Xbox-branded handheld from Microsoft, internally known as “Project Kennan.”

The leaked images show two nearly identical devices, likely both iterations of the upcoming Asus ROG Ally 2. However, one standout feature sets the black version apart: an Xbox-branded button positioned above the D-pad, suggesting a possible tie-in with Microsoft’s long-term handheld plans.

According to the FCC listing, both devices share several hardware similarities, including a 7-inch 120Hz LCD display and design tweaks such as thicker molded grips compared to the original ROG Ally. Under the hood, the Xbox-branded model boasts a powerful 8-core AMD Ryzen Z2 Extreme processor with a 36W TDP, while the standard ROG Ally 2 appears to feature a more modest 4-core, 20W chip. Both are expected to run full versions of Windows 11, continuing Asus’ approach to delivering portable PC-grade gaming experiences.

The leak has fueled speculation that the black handheld is Microsoft’s Project Kennan—an Xbox-centric portable console that has been quietly in development. Despite Xbox chief Phil Spencer stating last year that a handheld device was still “years away,” more recent reports suggest Microsoft may be preparing for a late 2025 launch. If the FCC listing is anything to go by, development may be further along than previously believed.

Project Kennan is expected to feature a dedicated Xbox guide button and adopt familiar elements from Microsoft’s console ecosystem. The device’s design language, as seen in the leak, aligns with Xbox’s current hardware aesthetics, lending credence to its authenticity.

Asus, known for launching new hardware at Computex, could formally unveil both devices at this year’s event, which kicks off on May 20. The original ROG Ally debuted during Computex 2023, adding weight to the likelihood of a sequel dropping at the same venue.

What remains uncertain is the price. Recent hikes in Xbox hardware pricing and potential tariffs on electronics imported to the U.S. may influence final costs—potentially dampening hopes for an affordable entry into high-performance handheld gaming.

As excitement builds around Computex, all eyes will be on Asus and Microsoft to see whether these next-gen handhelds can deliver the portable power and ecosystem integration gamers have been craving.