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Nokia is reportedly working on the first Windows Phone 8 (WP8)-compatible smartphone, although release timelines are yet to be announced. News of Microsoft's new mobile operating system was followed by information that no existing smartphone would be capable of running the software, leaving users a modified and tempered version - Windows Phone 7.8 - for now.

However, if a TechCrunch report does turn out to be true, the first WP8 smartphone could be a Nokia model codenamed 1001. The information, such as it is, has been accessed through piggybacking Remote Device Access but we must admit data regarding the Nokia 1001 is sketchy and, as a Redmond Pie report notes, this might be a hoax.

Nokia Lumia 1001
Lumia 1001 is reportedly spotted in the premises of Nokia Developer office, according to latest speculations making waves on the internet Photo: WMPowerUser WMPowerUser

"I was initially able to spot the Lumia 1001 (see above) while I was poking around with a Nokia 500. Just to make sure I wasn't seeing things, I jumped into a different device (the Nokia N9, if you were curious) to see if the device in question was still hanging around," notes Chris Velazco on Tech Crunch, explaining the incident that helped him in discovering the remote device.

"That being said, there's little question that Nokia is working on some Windows Phone 8 hardware behind closed doors, in preparation for the platform's launch later this year. Longtime readers may also remember that Nokia switched to a "larger-is-better" numerical naming scheme last year, with their most premium handsets getting high model numbers," reiterates Velazco, hinting at Nokia's preparation for the next-gen smartphone launch.

In any case, Nokia's success in the smartphone space depends on support from the Windows Phone (WP) platform. So far, both developer and manufacturer have lost ground to Android OEMs and Apple. However, if reports of the WP8's potential are true then this could change things.