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I work for a large European carrier. I've been told directly by Nokia, on multiple occasions, that all current devices will receive WP8.1. Your L720 will receive it as well.
Originally Posted by AhmedAtef
I can confirm that this is very wrong. It is likely another example of people confusing statements made about W7 and W8, and expecting them to apply similarly to WP7 and WP8 as well.
Originally Posted by xandros9
The WP8 kernel is slightly more efficient than the WP7 kernel. That is just a small part of the OS however. Most of what doesn't belong to the kernel is more powerful in terms of flexibility and extensibility, but it is quite a bit less efficient than WP7. With things like the WP8 CLR it depends on what you are referring to. Some things it executes faster, others it does not, although it generally requires more RAM than its WP7 equivalent. And so on and so forth...
WP7 was based on an extremely lightweight real-time OS called Windows CE. Nothing coming from the desktop/server realm (Like WP8 or Android) will be as lightweight and efficient as that.
Going forward however, progress in specific parts of the OS will be similar between WP8.x and W8.x, like the CLR. Just so far it hasn't been.