Microsoft’s Mobile and Embedded Devices division is moving toward more of an annual refresh schedule for its operating system releases. According to a recent Microsoft executive’s presentation, Microsoft is readying the next two releases, code-named "Crossbow" and "Photon," of its Windows Mobile operating system.

Crossbow, which Microsoft is endeavoring to deliver to cell phone and PDA providers by Q4 2006, will launch officially in the first or second calendar quarter of 2007. Microsoft is working to deliver Photon, the successor to Crossbow, to cell phone and PDA providers by Q4 2007, and launch it officially in the first or second calendar quarter of 2008

Read the complete story (Microsoft Watch)