Microsoft will not deploy a tablet version of Windows Phone 7.
Microsoft is planing to release Windows 8 next year. Looks like this is how long we will need to wait for a decent Windows tablet as well. According to Electronista, Microsoft's Andy Lees says that Windows Phone 7 will not be ported to tablets. Microsoft sees tablets closer to PCs than mobile phones. Apple as you know sees that very differently.
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The arguement is though pretty much moot if Microsoft is delivering in Windows 8 what the promised. If Windows 8 can behave like iOS or webOS if needed and still offer the full depth of a full PC operating system than this is actually great. The risk is though that Windows 8 brings the complexities of a PC to a tablet and this is clearly not what consumers want - just see iPad success story.