Microsoft Surface Phone latest news, specs, price rumors: The 'ultimate smartphone' to be released in 3 variants?

It's about time for Microsoft to release the Surface Phone, many tech enthusiasts say.

This speculation could be more than just another rumor with recent reports suggesting Microsoft could be officially announcing the Surface Phone together with the Surface Pro 5 and the Surface Book 2 in early 2017. The much-anticipated Microsoft smartphone may be unveiled during the Mobile World Congress 17 in February 2017.

Although there is no exact date as to when the Surface Phone will come out, it is said to be surely on its way. This is somewhat confirmed by Microsoft CEO Satya Nadella when she told Australia Financial Review that Microsoft is currently working on the "ultimate mobile device."

"We will continue to be in the phone market, not as defined by today's market leaders, but by what it is that we can uniquely do in what is the most ultimate mobile device," Nadella said during the interview.

According to Trusted Reviews, the Microsoft Surface Phone may be coming in three different variants such as the Consumer Edition, the Business Edition and the Enthusiast Edition. Leaks indicate that all variants will be sporting a 5.7-inch display, and the differences will come in the form of storage and memory upgrades.

In the same report, it is mentioned that the Microsoft Surface Phone may be equipped with 3 GB RAM and 32 GB storage for Version 1, 6 GB RAM and 128 GB storage for Version 2, and 8 GB RAM and 500 GB storage for Version 3. It is also rumored to be packing with Qualcomm's brand-new Snapdragon 835 chipset.

Should Microsoft launch the Surface Phone next year, the price range of the Surface Phone is estimated to be between $699 to $1,100, depending on the variant.

In the past, Microsoft has had very limited success in significantly penetrating the mobile phone industry. As tech giants like Apple and Google continue to dominate the industry, Microsoft is heavily pressured to finally get a crack at creating the ultimate smartphone and dethrone its competitors.