CAROL COSTELLO, CNN ANCHOR: It's time for a little business buzz right now. If you are tech savvy, we've got the latest tech toy hybrid for you. Got that? Carrie Lee has the scoop. Good morning -- Carrie.</s>CARRIE LEE, CNN FINANCIAL NEWS CORRESPONDENT: Good morning, Carol. We're talking about "Smart Phones" here, a new breed of phone that will feature a cell phone as well as a handheld computer in one device. Microsoft and Motorola are working on this jointly, and they are expected to officially announce an alliance today. Now the technology combination really isn't that new, it has been introduced in a couple of countries. It's not really available yet in the United States in any wide way, though. And powerhouse Microsoft could really get the ball rolling. We're talking about things here like organizing contacts, checking e-mail, digital music and video clips, creating a calendar, browsing the Web, all in one device. The devices are expected to cost about $100 to $300. Pretty similar to phones that are available now. AT&T; Wireless will be the carrier. So watch for news of this alliance coming out today, Carol. And they do expect this to be a pretty mainstream project -- product, rather, in years to come. That's what some independent analysts say. So could become the wave of the future very soon.</s>COSTELLO: All right, we'll keep our eyes peeled. Carrie Lee, live at the Nasdaq market site, many thanks. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Motorola, Microsoft to Introduce 'Smart Phone'