Could Microsoft axe the release of the Surface Phone? New rumors are starting to circulate that the leading software company could shift focus and drop the project soon.

According to News Independent, "Microsoft's hardware ventures, especially their mobile phone ventures, have been rather unsuccessful and it has been estimated that the company has bled out close to $15 Billion in losses over the same. The Surface Phone was expected to help give them a boost in the markets."

"The Surface Phone was a very ambitious project, but the signs seem to indicate towards its cancellation. With Terry suggesting 'this year' phones are not an important part, it is more than likely that the Surface Phone device project has been shelved," the report added.

It was previously reported that the Microsoft Surface Phone will be aesthetically at par with its counterparts. "The Surface Phone will have an aluminum and magnesium body. Display-wise, it will feature a 5.5-inch AMOLED display and, since it is targeted for business professionals, accessories such as the Surace Pen will be compatible with the device," Christian Today noted.

The Surface Phone will be marketed as a "professional-level" premium mobile phone as Microsoft will reportedly release a mid-range line of handsets through its Lumia brand.

Some of the phone's notable features include a 6 to 8GB of RAM, up to 500GB of internal storage and a continuum liquid cooling technology. This early, rumors are rife that the phone will be offered at $700 to $1200.

What do you think about the Microsoft Surface Phone? Stay tuned for more release date updates here!