The market reports say Microsoft is gearing up for its new service called My Phone, which will let the Windows Mobile users to sync contacts, calendar appointments, photos, and other information with the My Phone web site.

On Friday, last week, an Engadget report stated that Microsoft’s new service, My Phone will be officially launched at the February 16-19 Mobile World Congress in Barcelona. According to the report, the service will be similar to Apple's MobileMe, but there will be some key differences.

On Sunday, a Wall Street Journal report said, “Microsoft Corp is designing to launch its new service for mobile phones, including an online bazaar for software for phones working on Windows Mobile operating system.” According to the report, the software giant will soon bring out the latest version of Windows Mobile, which will have a more sophisticated interface.

The reports say that it will be free service; Microsoft will not charge anything for this service. However, Microsoft has not yet officially stated anything about its new service.