All Windows Phone 8 devices will use including features such as turn-by-turn navigation, public transportation schedules, and support for offline maps. The new Windows Phone 8 Wallet Hub puts your credit card information in one place to let you pay via NFC. And just like Apple's Passbook, the Wallet Hub stores your loyalty cards, boarding passes and coupons.

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The biggest jump forward for Windows Phone 8 is improved hardware features including support for Near Field Communication, multicore chipsets, new graphics processor, two new screen resolutions (1280-by-768 and 1280-by-720), and removable SD storage (Windows Phone 7 had integrated, non-removable SD storage).

Windows Phone 8 will also support in-app purchases and enterprise-ready features.

Windows Phone 8 will launch in the fall with new devices expected from including Nokia, Samsung, HTC and Huawei.