The Microsoft event, which will be held in New York, is just a few hours away. The webcast will start at 10 a.m. ET or 7 a.m. PT, and it can be viewed on Microsoft's website via a browser or from one of the Xbox consoles, according to Computerworld.

What can we expect from this much-awaited event?

Microsoft is of course expected to unveil devices running in Windows 10, which include the Surface Pro, Lumia 950, 950 XL and Lumia 550. As per Wired, Microsoft's wearables, like the fitness tracker and VR/AR products, are expected to be updated.

Only a few information leaked about the Surface Pro 4, but it is expected to be slightly thinner, lighter and faster compared to Surface Pro 3. It is already anticipated that the new Surface Pro will face a tough competition in the market with Apple's 12.9-inch iPad Pro and Google's 10.1-inch Pixel C.

The 5.2-inch Lumia 950, which is reported to have Snapdragon 808, 64-bit Hexa-core processor, and the 5.7-inch Lumia 950 XL, anticipated to have a Snapdragon 810, 64-bit Octa core, were accidentally shown by Microsoft Store ahead of today's launch.

There were details leaked about these two smartphones over the past weeks. This is why many are looking forward to the official announcement — to confirm the details, which emerged online ahead of this event.

Meanwhile, analysts believe that the launch of Talkman and Cityman will create a halo effect around Microsoft's software and services. They are suggesting not to look at the smartphones as just retail devices.

Many critics are also hoping for some additional details about the HoloLens, but Engadget stated that they were less confident that it will be addressed this week.

The invitation to the media and analysts had been sent by the company three weeks ago stating, "We have some exciting news to share about Windows 10 devices."