Microsoft (MSFT) Said Planning Flagship 'Surface' Smartphone for H216

Microsoft (Nasdaq: MSFT) could be working on a new Surface smartphone which could appear sometime during the latter-part of 2016.

According to Windows Central, Microsoft's Panos Panay and his team, which worked on the Surface and Surface Book, are spearheading the new flagship smartphone project.

News comes following recent reports that an alleged Surface smartphone that was slated for release in May 2016 will be scrapped. That phone was said to be another Nokia-designed Lumia device.

The Surface smartphone is also expected to run on Intel (Nasdaq: INTC) chips.

Microsoft shares are lower in early trading Wednesday.

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