These phones are going to be made by Sharp, who'll get to share branding with Microsoft. Sharp produced the Sidekick hardware for Danger, who was bought by Microsoft two years ago. Pink will be primarily aimed at the same market as the Sidekick, and the branding and identity for it is highly developed, pointing toward a later stage in the development cycle.
The prior relationship between Danger and Sharp is the only reason we can think of why Microsoft stuck with Sharp for the new phones, and perhaps why they look so much like remixed Sidekicks. The youth bent is somewhat surprising, if Pink is going to be their big consumer phone play, building off the expertise of Danger and members of the Zune team.
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