MS has code named Windows Phone 8 as Apollo. This is the next generation of Windows Phone. Camera app which has been introduce in Windows Phone 8 supports "lenses", which allow third parties to skin and add features to camera interface .

Features:

• Multi-core CPUs of up to 64 cores
• 1280x720 and 1280x768 resolutions
• MicroSD cards
• Internet Explorer 10
• Background multitasking
• NFC support added,
• Native code support
• Nokia map technology
• 128-bit Bitlocker encryption

Microsoft has developed Windows Mobile 7 to be used in Smartphone’s and Mobile Devices. The main component of this Windows Phone 7.5 is Stylus pen. While entering the command you just need to tap it on the screen. Current date, owner information, upcoming appointments, e-mail messages etc are also displayed on Windows Mobile 7. Another updation in Windows Phone 7 is Office Mobile. Internet Explorer Mobile is the Internet browser of Windows Mobile 7.
Different features of Windows Mobile 7 include:

• Great mobility
• Motion gestures
• Better media player

Source : Windows7.iyogi

Windows Phone 7.5 codenamed as Mango was announced in February 2011 at the Mobile World Congress. The Skype application is included in this version. Windows Phone 7.5, the latest build delivers an onslaught of features -no less than 500. Windows Phone 7.5 Mango has multitasking capabilities.
• Dynamic Live tile information
• Full IE9 browsing
• Skydrive and Office 365 documents sync
• Location awareness icon
• Great Twitter integration
• Export and manage contacts to SIM card
• Support for low-cost devices with 256 MB RAM
• Low clock CPU
• Better media messaging

Source : Techradar

27% of all Windows Phone 7 handsets are running pre-NoDo builds. But perhaps most curious of all the facts that KnowYourMobile has recently compiled is that 4% of Windows Phone handsets are running Mango, meaning that 4% of phones in the wild are either in the hands of developers, press, or Microsoft employees with early access. That is a larger percentage than we would have anticipated, and perhaps points to continuing consumer weakness for WP7.

Source : Thenextweb

Microsoft tried to reignite excitement around its mobile business by launching Windows Mobile 6.5 at the 2009 Mobile World Congress in February. The new features which were added into this version include:

• New Today screen
• "Honeycomb" Start screen
• Finger-friendly UI elements
• New lock screen
• Revamped Internet Explorer
• Windows Marketplace
• Exclusive content

Source : Wpcentral