Nokia Windows Phone 7 handsets already being worked upon, aiming for Q4 release

Reuters reports that Nokia has already started work on new Windows Phone 7 handsets for release later in the year.

"We’re right now, today, having people work on the first Windows Phone devices from Nokia. That work is already under way. " Stephen Elop, CEO of Nokia said. Elop continued that he aims to produce a Windows phone by the end of this year, hopefully squashing rumours that no handsets are intended to arrive before 2012.

Despite all the movement the agreement between Nokia and Microsoft still has to be finalised, something that Elop has said he expects to happen in the next couple of months.

Addressing speculation that the closer cooperation between the two companies was just a prelude to an outright purchase he said he could see no good reason that Microsoft might want to try to buy Nokia.

"I’m not aware of a strategic interest that Microsoft would have in the rest of the business," Elop said.

"To the extent that a partnership has been formed around what they’re really interested in, then what would an acquisition bring other than a good year of anti-trust investigation, huge turmoil, delays?"

Read more at Forexyard.com

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