Microsoft Unveils Windows Phone 8

Hot on the heels of its "Surface" tablet announcement, Microsoft today unveiled its latest mobile offering, Windows Phone 8. This new OS will be built off the same source code as the desktop/tablet version of Windows 8, and will at last bring Microsoft's OS up to modern standards, giving it the ability to handle multi-core processors, high-resolution screens, and advanced wireless technology, Mashable reports.

Using the same source code as the desktop could be a big deal; it will mean developers can easily adapt apps for both platforms. The downside: You won't be able to upgrade current Windows phones to the new system, the Verge reports, because they haven't got the hardware necessary to handle it. The OS has a number of new features, including a new system for mobile payments, support for external storage, and more. (More Microsoft Surface stories.)