It certainly looks like a significant update from Windows 7.5, with multicore support, microSD card support, VOIP on board, NFC support & the ability to work with different screen resolutions including 720p:
http://www.bbc.co.uk/news/technology-18527509
http://www.techradar.com/news/phone-and-communications/mobile-phones/windows-phone-8-8-ways-they-plan-to-be-better-than-the-competition-1086292
It is based on Windows 8 Kernel, & not Windows CE.
On paper, it looks like it will succeed. 🙂
http://www.bbc.co.uk/news/technology-18527509
http://www.techradar.com/news/phone-and-communications/mobile-phones/windows-phone-8-8-ways-they-plan-to-be-better-than-the-competition-1086292
It is based on Windows 8 Kernel, & not Windows CE.
On paper, it looks like it will succeed. 🙂