Microsoft to Announce 'Pink' Phone Next Week

Microsoft Corp. is set to announce the launch of its long-awaited "Project Pink" phones early next week, sources familiar with the matter said on Monday.

The mobile phones, to be sold by top U.S. mobile operator Verizon Wireless, are being targeted at heavy users of social network sites, according to sources. Verizon Wireless is a joint venture between U.S. phone company Verizon Communications Inc. and Vodafone Group PLC.

Microsoft has sent invitations to media to attend an event in San Francisco next Monday, but declined to comment further. A Verizon Wireless representative also declined comment.

The phones are likely to be made by Sharp Corp, sources said. Sharp already makes Microsoft's Sidekick phone, which are popular with young users.

The world's largest software company primarily competes in the wireless industry by selling its Windows mobile software to multiple handset makers, but it has been losing market share to Apple Inc, Google Inc and others in the growing smartphone market.