Here's a bucket of cold water for all the hot and bothered speculation about the prospect that Nokia Corp. (NYSE: NOK) could launch its first Windows Phone smartphone on Aug. 17:

Engadget reports that Nokia says the event it's hosting with Microsoft Corp. (Nasdaq: MSFT) on Aug. 17 is just a "local developer event," and that there won't be any new devices there.

The latest Nokia Windows Phone speculation was sparked by an invitation to a Nokia and Microsoft bash in Cologne, Germany, at the Gamescom annual interactive games tradeshow, which promises that "exciting actions and surprises will make it an evening to remember."

While the release of Windows Phone devices isn't expected from the Finnish phone maker until later this year, an early launch would make sense for a company that is eager for some good news. Of course, Nokia CEO Stephen Elop already spilled the beans at the end of June about the first new Windows Phone device, code-named Sea Ray. (See Euronews: Nokia Nearly Junk, Analyst: Nokia Faces Low-End Threat, Euronews: Nokia Shrinks, Ericsson Grows and Device Watch: HTC Updates Its Status at AT&T.)

If Nokia's Windows Phone launch really won't be later this month, another date could be Oct. 26, which is the start of the annual Nokia World event in London.

So what might be those "exciting actions and surprises" on Aug. 17? Could this be the time when Nokia reveals a tablet strategy, if not an actual device?

— Michelle Donegan, European Editor, Light Reading Mobile