Motorola apparently told Reuters back in February, that it was designing a Microsoft-driven smartphone. Finally, in August, the first
leaked pictures appear; and that's a prototype. Why the delay?
The easiest explanation for the delay is that the phone network operators are very much afraid of the power of Microsoft to dominate an industry.
The other explanation may be simply that the phone industry believes a smartphone has to have Bluetooth to succeed; and Microsoft can't deliver that technology until it gets the new software ready.