Name of the upgrade is not yet known, but it is likely that it will be called Windows 8.2. From the news that will bring, some have already been announced earlier this month - return of the (hybrid) start menu, and the ability to run Windows Store application in a window. The launch of Windows 9 is scheduled for next spring, and by the end of the year are expected atleast two upgrades of Windows Phone 8.1.
From Microsoft have already announced they will offer Windows (including Windows Phone) for free for OEM manufacturers if they will be used on devices with a diagonal screen under nine inches.
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