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(Pocket-lint) - Until Microsoft announces the Xbox 720 (or, simply, "Xbox" as some believe), rumours will persist. However, few are as saddening to hear as the latest, especially if, like us, you've built up a meaty and mighty library of Xbox 360 games over the last few years.

Bloomberg says that "people with knowledge of the matter" have informed the news site that the next-generation Xbox console will not be backwards compatible with games from the last.

Having been told that the new machine will indeed use an AMD chipset, as per many other leaks and rumours that have appeared over several months, the site claims that backwards compatibility is a no go, thanks to the previous console using IBM Power PC technology instead.

READ: Xbox 720 vs PS4: What Microsoft needs to do to win the next-gen war

Of course, those who upgraded from an original Xbox to the 360 will know that backwards compatibility was not a given at that juncture - certainly not in hardware terms. Instead, each game needed a software patch to ensure compatibility, with a majority of titles being ignored. The same could be true this time around, although it is more likely that Microsoft will adopt a similar model to Sony in offering back catalogue games as cloud based only.

The PS4 will allow subscribers to play PS3 games as part of a cloud streaming service, so hardware compatibility is irrelevant as they will be hosted remotely. That is thought to be for a monthly fee, and perhaps Microsoft will follow this model.

We'll find out for sure when the official launch event takes place. At the moment, that is thought to happen in May.

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Writing by Rik Henderson.