• Reuters, Tuesday, April 6, 2010 10:37 AM

Microsoft will formally introduce its "Project Pink" phones early next week, sources say, along with a new name for the devices. Targeted to heavy users of social network sites, they appear to be stylish versions of Microsoft's Sidekick device, Bill Rigby and Sinead Carew report. They are expected to hit the market this summer.

Microsoft's main thrust in the mobile phone market is the revamp of the Windows Phone 7 software it licenses to handset makers. It will be available later this year.

Apple, meanwhile, is set to preview its new iPhone software at an invitation-only event in Cupertino, Calif., on Thursday, Reuters' Gabriel Madway reports. The company is widely expected to launch a fourth-generation iPhone this summer.

Yukari Iwatani Kane reports in the Wall Street Journal that Apple sold more than 300,000 units of the iPad when it went on sale Saturday. Most analysts were predicting sales in the 400,000 - 500,000 range; Piper Jaffray's Gene Munster thought the figure might be as high as 700,000.

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