Report: Nokia Ace is latest Windows Phone

The latest speculation surrounding Nokia’s still-newly-minted partnership with Microsoft pegs a new phone called the Ace to be released in early 2012., an unofficial website that covers the latest Nokia products and announcements, reports that the newest phone to come out of the handset maker’s impending slate of Windows Phone-powered devices will have a 4.3-inch display and an impressive 8-megapixel camera.

In addition, the blog says the Nokia Ace will have 4G connectivity with HSPA+, the standard currently is use by AT&T and T-Mobile in the US.

The Ace will reportedly come exclusively to AT&T when it makes its debut in the states, and it becomes the third phone to come off thee Nokia-Windows Phone presses.

The other two are the Nokia Searay – which CEO Stephen Elop unveiled at a behind-closed-doors meeting that was leaked online – and the Nokia Sabre – a device that was accidentally announced at a Microsoft event in Canada.

The Ace will reportedly also contain a 1.4 GHz processor and 16 GB of internal storage, making it one powerhouse of a phone.

The Nokia-Windows Phone partnership was announced earlier this year and marks a potentially cataclysmic shakeup for the mobile market in early 2012. The new handsets will come perfectly times with the upgraded version of Windows Phone known as “Mango,” which is currently on its way to select existing handsets.

Nokia still holds an iron-clad grasp on the mobile markets in third-world countries as well as countries like Russia, but it has fallen out of favor in much of the developed world thanks to the rise of Android and the iPhone.

The company is still renowned for its design ingenuity and unparalleled handset manufacturing, so partnering with Windows Phone could bring it back to the forefront, and will also surely add a competitive advantage to the Windows Phone OS.