Nokia is about to make a major announcement on the 11 February, and although no one is absolutely sure of what will be, according the the New York Times, a Nokia/Microsoft teamup - involving Nokia handsets and Microsoft's Window Phone 7 operating system - isn't out of the question.

Rumours have been circulating for a while now, with the announcement to be made by Stephen Elop, a former Microsoft executive, who in September 2010 was made chief executive of Nokia.

Nokia is keeping pretty quiet about the whole affair at the moment, but it has been reported that the announcement will be a strategic one, which makes sense considering Nokia's lack of impact in the smartphone market with its in-house operating system Symbian. Whilst Microsoft's recently launched WP7 OS, after initial high expectation, perhaps hasn't made the impact it hoped for; LG's James Choi, marketing strategy and planning team director, exclusively commenting to Pocket-lint: "From an industry perspective we had a high expectation, but from a consumer point of view the visibility is less than we expected."

With this in mind a teamup would make a lot of sense for the two companies, although it would be a real tear for Nokia to abandon Symbian altogether, as it has been committed to the OS for many years.

Nokia is also involved with Intel in developing MeeGo, a smartphone and tablet OS. So if this speculation of a teamup turns out to be true it would certainly mean the Finnish company has its hands full.

Like the sound of a Nokia handset running the WP7 OS? Let us know your thoughts in the comments below.

Video - Nokia Windows Phone 7 concept