If and only if Paul Thurott is right — which is not excluded but a long shot to say the least — and there will be no Windows Phone 7 Mango update this year as the rumor states, we are likely to not see any Nokia made Windows Phone 7 devices until 2012.
Nokia and Microsoft announced a strategic alliance last month according to which the Finnish giant will only ship smartphones with Windows Phone 7. A new ecosystem will be created which will benefit everybody on the long term but, Nokia stated it clearly that it will be waiting for the Mango refresh to hit first.
This, of course, can change: we have absolutely no idea whether the features announced by Steve Ballmer at the Microsoft Keynote in Barcelona — fast app switching, Twitter integration and IE9 — will be part of Mango or another update. There were also some recent rumors according to which IE9 will be delivered before Mango — if it was ever part of Mango in the first place — so we might just have one or more incremental updates until Mango.
If, on the other hand, all this will be part of Mango and Mango itself will be pushed to 2012, the possibility of seeing Nokia Windows Phone 7 devices this year is rather thin. This, as opposed to the alliance which benefits everyone in a win-win situation, will be a huge drawback for Nokia, Microsoft, in a lose-lose situation.