The first new Windows Phone 7 Phones from the Nokia / Microsoft partnership (started 8 months ago) poked their heads up at Nokia World.... the phones are the Lumia 710 and 800.
The 710 is a "... colorful and affordable [...] no-nonsense smartphone that brings the Lumia experience to more people around the world". I read that to be that it's a lower end more affordable phone. The 800 is "stunningly social" and has "vivid colors".
See the press release for full specs, or this macrumors link for more details.