What's the Latest Development?

Early this morning, Nokia unveiled two models of a new smartphone which runs Microsoft's operating system: The Lumia 710 and Lumia 800. The devices are receiving early compliments on their technical specifications as well as their design. Reviewers say that Microsoft's O.S. functions in a completely different way than the market's prevailing platforms: Apple's iPhone and Google's Android. The phones are aimed at mid-market consumers; while the 710 is substantially cheaper, both phones have a 1.4GHz processor. 

What's the Big Idea?

Microsoft is reportedly showering Nokia with billions of dollars to use its operating system as both companies make what many consider a last attempt to enter the smartphone market. The Lumia's release comes three years after Apple's smartphone first debuted and while the devices can be pre-ordered in Europe, they will not arrive to the U.S. until next year. Nokia's choice of Stephen Elop, a former Microsoft executive, as its newest C.E.O. was controversial within the Finnish company.