Microsoft's secret project, dubbed 'Pink', is quite a big deal amongst the rumor community. We talked about it a little while ago, and things have certainly developed since then. Just earlier, Gizmodo revealed the first pictures of two 'Pink' phones which Microsoft hasn't officially acknowledged yet.
The two phones are called 'Turtle' and 'Pure', and are going to be produced by Sharp, who will share branding with Microsoft on the devices. Please note that in the photos included below, the first one is 'Turtle' and the latter is 'Pure'. They're quite interesting devices, very rounded and sleek, with the 'Turtle' looking similar to the Palm Pre.
Unfortunately, Gizmodo's sources won't reveal any other information about the devices yet, though no doubt more information will come out soon. It's rumored that the Pink phones will have Zune services and an app store also, to distribute third-party applications.