Microsoft has reportedly unveiled an update to its Windows Phone 7.5 aka Mango that powers Nokia Lumia phones dubbed as Windows Phone 8 (WP8). According to latest chunk of information, the new mobile operating software shares core code with Windows 8, this is Microsoft’s upcoming software for personal computers. 

The Redmond giant, Microsoft is claiming that Windows 8 and Windows Phone 8 will provide a unified experience to users as they can use it on both smartphones and PCs. Microsoft has announced that WP8 will support dual-core processors, a 720P resolution screen, microSD card slot and Near Field Communication chips along with integrated support for Voice over IP (VoIP).

However, the new WP7 operating system will not be available for the exiting Windows Phone devices. The existing users can have another version Windows 7.8, which will have a customizable home screen similar to WP8 but not the other features.

For availability, it is reportedly said that Windows Phone 8 devices will be launched sometimes later this year. As far as device makers are concerned, Nokia, Huawei, Samsung and HTC are planning to launch WP8 devices using Qualcomm processors by 2012 end.

With several new features, including support for dual-core processors, the new Windows Phone 8 can help Microsoft to beat Google's Android and Apple's iOS, analysts believe. According to last quarter report, Microsoft had 2 percent of the world's smartphone market share, while Google's Android grabbed lion’s share of 56 percent, followed by Apple with 23 per cent. 

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