Microsoft Launching Windows Phone 7 on October 11? (MSFT)

Unnamed sources are reporting that Microsoft

is set to release Windows Phone 7 in New York on October 11th. Shares of Microsoft are higher by 0.7% this afternoon, to $24.09. According to an Engadget.com note, "Pocket-lint is reporting today that its sources, 'senior figures within the industry'," are confident in the date. Handsets, according to the sources, would be available for purchase later in October. Microsoft has had little success in the mobile phone software arena, and hopes this latest version will turn the market in its favor. Still, it's clear that competition from Apple's

iPhone, Google's

Android, and Research in Motion's

BlackBerry won't make things easy.