Fans are waiting for news about Microsoft's newest rumored smartphone, the Surface Phone. So far the Redmond-based tech company hasn't said anything about it yet, and so we turn to rumors.

Earlier reports said the Surface Phone will be surfacing this year, and will challenge the leading smartphone brands Samsung and Apple, as well as Google. However, Microsoft hasn't confirmed this rumor.

Fans had waited for Microsoft to reveal something about the phone during the recent Mobile World Congress, but they were disappointed when no announcement was made for the Surface Phone. The latest Windows phone happens to be HP's Elite x3, Engadget noted.

Microsoft CEO Satya Nadella, however, did say sometime ago that the company will be staying in the smartphone business even if it failed to make waves with the Nokia Lumia line of devices. At the time, Nadella said they are learning from the company's hits and misses, and are taking their sweet time to create a device that won't be something like a "me too" out of envy over another company's success.

Microsoft Executive Vice President of Windows and Devices Terry Myerson, in an interview with ZDNet last year, also said that the company will continue to "invest" in both ARM processors and cellular connectivity. Myerson stressed that the company will continue investing in these two areas.

Although the rumored Surface Phone hasn't been confirmed by Microsoft just yet, the company's execs somehow assure us that they're not giving up on mobile anytime soon. And as Nadella would say it, Microsoft would eventually create and launch "the most ultimate mobile device."