According this story at Gizmodo, as well as writeups at ARS Technica, it looks like Microsoft is going to hit the market with Verizon on a new mobile phone called the Pink. I have to say that Microsoft isn’t exactly great on names, adding Pink to Zune in their list of 4 letter forgettable.
While some suggest that it is a windows 7 mobile phone, the interface apparently does not look like Win7. The phone in the example is a turtle style slider phone, with a nice looking keyboard, and the phone seems to be aiming at the social networking / texting market, which is pretty hot at this point.