Rumour has it that the Windows Phone 7.8 update will be released on Wednesday night.
Pre-existing Windows Phone users who will miss out on Windows 8 will still be able to get a bunch of new features with an update to Windows Phone 7 — which might arrive as soon as Wednesday night, according to WMPoweruser.
The website cites an anonymous tip-off as its source; however, TechCrunch got in contact with Microsoft, which said that it has no announcement to make at this time — although we might hear something "soon".
Although the update will include features such as new boot and start screens, live lock-screen wallpaper and core apps redesigned, it will not offer forward compatibility with Windows 8 apps. However, the update may go some way toward validating users who bought new Windows smartphones prior to the launch of Windows 8.