Microsoft would release a Windows Phone 7.5 update, or Mango, in about two weeks time that is expected to energize the software giant in its smartphone OS battle against Apple and Google.

Windows Phone 7 competes with Apple's iOS and Google's Android. Interestingly, the Mango would be competing with the iOS 5 and Google Ice Cream Sandwich, both are expected to be released in late 2011.

For months, we and dozens of our partner companies have been laying the groundwork for the Windows Phone 7.5 update and making solid progress. As a result, we now expect to start rolling it out in the next week or two, Eric Hautala, General Manager, Customer Experience Engineering at Microsoft wrote in a blog post.

When Microsoft rolls out the 7.5 update, it would also refresh the Where's My Phone Update? table to reflect the worldwide rollout status.

During the official Windows Phone 7.5 update process, every Windows Phone will also receive software from the handset manufacturer, the blog post noted.

This matched and paired firmware has been painstakingly tuned so your phone-and apps-work with all the new features of Windows Phone 7.5. Since your phone requires the proper firmware to function as designed, my advice is simple: steer clear of bootleg updates and homebrew tools, added Hautala.

The Windows Phone 7.5 is coming with more than 500 new features including Dynamic Live tile information, built in multitasking, Windows Live Messenger and Twitter support. The update allows Windows Live Messenger and Facebook Chat integration and all messaging communication can be organized in a single thread.

Under the new update, one can organize contacts by groups which can also be pinned on the start screen and has tighter integration with Skydrive and Office 365. It also has redesigned Games hub with integrated 3D avatar and avatar customization.

The latest news is also considered as a positive for Nokia, which can now launch its phones on the latest operating system. Finland-based Nokia had dumped its legacy Symbian software for Windows Phone 7 after losing market share in the high-end smartphones.

I know you're eager to get your hands on the next release of Windows Phone-and everyone involved with Windows Phone is equally excited and eager to deliver it to you. Please hang on-we're almost there, Hautala concluded.