During a developer event in India, Microsoft has revealed plans to deliver a low cost version of their new Windows Phone 7 to target emerging markets which will follow the initial round of high end Windows Phone 7 handsets which are due to launch at the end of the year reports engadget.

Further details of the low cost version of Windows Phone 7 are not available at this time; however according to he source article over on economic times, the director of India’s Visual Studio group, Sudeep Bharati, the low cost version of Windows Phone 7 will sport a smaller screen.

Bharati also confirmed that they are presently in talks with manufacturers with a view to gaining feedback about a lower end Windows Phone 7 version for developing markets such as India.

And that’s about all that is known on this lower cost Windows Phone 7 thus far, but we’ll keep you informed as and when we hear more.