Microsoft Windows Phone 7, with no cut and paste, no custom ringtones, no real multi-tasking, its going to take a rather large update to address each of these potential issues. The slated update is also to include a new Bing turn-by-turn directions app. Lets not forget that Windows Phone 7, while not entirely new to the smartphone market, it is a new OS, and it took Apple and Google much more time before the respective smartphone operating systems got it right.
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