Microsoft Zune Phone In 2 Months?

Some rumors just won’t die off, and it’s hard to tell if this rumor has gained a new lease of life, or is spurred on by the recent launching of Google’s Nexus One. We’re talking about the Project Pink, or Zune Phone, that was rumored a while back. Now Jefferies analyst, Katherine Egbert, states that industry checks indicate that Microsoft will be debuting its own phone, sometime in the next 2 months, probably at Mobile World Congress (MWC) or CTIA in Las Vegas. Do you think there is a sliver of truth in this rumor, or is it all just smoke and mirrors?