Bill Gates introduced Microsoft’s new operating system for mobile devices at the Mobile & Embedded Developer’s Conference yesterday.

Windows Mobile 5.0, or Magneto, as it used to be codenamed, supports push-to-talk buttons and small hard drives, among many other features.

The irruption of this operating system into the market is sure to bring about changes in the current scene. Today most mobile devices run Symbian, the operating system partially owned by Nokia. The Finnish company is likely to see their market share reduced by the release of Microsoft’s software.

And Nokia is not the only firm who may be affected by the participation of Bill Gates’ company in the industry. Windows Mobile 5.0 also supports QWERTY keyboards, until now an exclusive feature of Research In Motion’s BlackBerry. This release could mean a decrease in sales for the Canadian company.

The release of Microsoft’s operating system may not be good news for today’s industry leaders. However, Windows Mobile 5.0 will be probably more than welcome by users who want not only a cell phone, but also a device capable of handling wireless e-mail, songs, photos and videos.