http://www.engadget.com/2012/06/20/microsoft-introduces-windows-phone-8/

Microsoft introduces Windows Phone 8 for fall release, incompatible with current devices

Microsoft has finally and officially removed the wraps from the OS formerly known as Apollo. It's now just Windows Phone 8 and, at their "sneak peek" event we're learning a good bit about that OS, and some of the great new hardware support that it offers. But, there's one thing we want to make clear right away: if you're currently holding a Windows Phone device you won't be getting a taste of this action. Well, not unless you buy a new phone, that is. That back and forth about upgrade paths has been proven to be incorrect, as the hardware requirements for WP8 preclude its running on any current WP device -- even that hot blue Lumia 900 you got for a steal.

And what are those hardware requirements? As detailed here, multi-core processors (up to 64) are now allowable, displays up to WXVGA (1280 x 768) and external storage on SD. This better, faster hardware will enable new, faster games and other demanding apps which, for the first time, can be written in native code. (Well, it's C/C++, which at least lets developers get out of CLR land.) All this will run on a kernel shared with Windows 8 and Windows RT. In other words: yes, Microsoft has managed to get one platform running on desktops, laptops, tablets and phones, the idea being that apps can be more easily ported from one to the next, promising "games we've never seen before" running on your phones.

There's also a new wallet functionality thanks to the NFC support, as detailed here, but reliant on an augmented SIM, not hardware on the phone itself. This means carriers won't have to remove apps (as we've seen with Google Wallet in the past) but they can block support altogether. Nokia maps is now built into the OS, including offline map support.

This is a big step forward on many levels, but Microsoft is naturally sticking to its roots, promising enterprise-ready security and support, enabling admins to deploy and restrict apps on corporate-provided phones and manage them remotely. There's also encryption and secure booting integrated.

It's all set to arrive this fall, which just so happens to be when Windows 8 (and those fancy new Surface tablets) will start shipping, too.

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I hope no one bought a Nokia Lumia this week...

well that won't make many current phone users happy :S

Well, I have a HTC Titan, not that happy...

But not that unhappy either... since it's incompatible, but isn't - for all the things that matter to me.
At least for the foreseeable future.

The worst thing about this is fall release.Cmon, too far away.

Microsoft are trying their best to make people not buy these phones, and phone companies abandon their OS, good job guys

I hate it too but I understand it also. The fact is the only way windows phone still can succeed is by offering the same experience as the other windows products. So they run on the same kernel and that makes everything so easy. A side-effect is that wp7 is not longer supported and will die

I'll take one!

It doesn't. It's still not a straight port, and if WP8 has WP7 like sales then no one will bother.

It is a straight port, didn't you follow the event? You make your app chose the platform and the program makes an app for the three platforms, no extra work needed. And Wp8 doesn't need to sell well because it can easily get the windows 8 apps. The more I think about the more brilliant it is!

Yes, if you use the current version of .NET and its SDK. i.e worthless.

Who uses .NET for consumer programs. And the point of compatibility, that has made desktop Windows such a success, is zero effort porting of older programs, not needing to update the SDK.

This is so massively disappointing. MS can't be alienating users like this. They were late to the party when WP7 launched. Now they're turning back the clock another two years and essentially starting over with Win8.

I understand why they did it but it just proves that we're dealing with the same ol' Microsoft. Every time you think the company has turned the corner, they shuffle their feet and run backwards again.

Out of principle, this has ruled out me buying a Win8 phone when I upgrade later this year. I'm not going to be a beta tester for a brand new version of Windows again, with an empty app store that needs to be rebuilt again. I was keeping all my options open between the new iPhone, WP, and Android (even after my sour experience with Android) but now it's down to iPhone and Android. It will take a real blunder from Apple to keep me from switching back to iPhone, something I thought I'd never do.

Damn. I was pretty excited about the stuff MS has been doing with WinPhone. Too bad they won't get my business.