Microsoft Pink is a Touch Screen Mobile Phone

The mystery behind the "Pink" Microsoft project is somewhat solved.
WSJ.com says that Microsoft is working on a new touch-screen mobile phone to compete with the iPhone and the internal name of this project is "Pink".
Microsoft’s "Pink" project is aiming to produce a phone that extends the tech giant’s Windows Mobile cellphone operating system, adding new software capabilities. It would also likely include Microsoft’s new Windows Marketplace for Mobile, a mobile application store along the lines of Apple’s, these people say.
While Microsoft will handle the software and hardware design of "Pink" on their own, the handset will be manufactured by a third party just as HTC is making Android powered cell phones for Google.