At the Windows Phone Summit the company detailed eight different platform changes.
While it would not tell anyone about all the end user features, Microsoft said that the new operating system will support multi-core chips.
It looks like it could even run on a 64-core machine which seems a little over the top for a phone.
The gizmo will support WVGA, WXGA, and 720p (800x480, 1280x768, and 1280x720 16:9)O. Old apps will run on the new software too.
Windows Phone 8 will also support removable microSD cards and make it easier for iOS and Android developers to port over their apps and games to Windows Phone.
There will be NFC support and the Wallet hub. Another point is that it will include Nokia's built in mapping technology, including turn-by-turn navigation.
From the point of view of business and in the hope of picking up trade from the broke RIM company, the phones will have encryption and secure-boot, along with BitLocker, LOB App deployment, Device Management and the usual Office apps.
Windows Phone 8 will have a newer Start Screen that allows users to adjust the tile size and customize the colours. It should be in the shops by Autumn.
However, it looks like those who have the Nokia Lumia 900 or other Windows Phone devices will be a little out of luck. The new operating system will not run on older systems. This will be the kiss of death for anyone who bought a Nokia this year as they will have to junk their phone to get the new OS.
Vole has said that it will offer a separate update, Windows Phone 7.8, which should give these early adopters some similar functionality, but it will mean that no one in their right mind should buy a Nokia Lumia 900 until after the new system comes out. Nokia will not be happy about that.