Nokia CEO Stephen Elop confirmed to Reuters that his company has started developing its first Windows Phone handset. “We’re right now, today, having people work on the first Windows Phone devices,” said the CEO. Nokia announced that it would adopt Microsoft’s Windows Phone mobile operating system on future smartphones during a February press event. The timeline of when the Finnish company will release its first Windows-based handset has been a debated topic amongst many industry analysts and pundits. While it is widely assumed that consumers will have to wait until at least 2012 to purchase such a device, Elop has publicly stated that he wants a Nokia-branded smartphone running Microsoft’s OS in market before the close of 2011. The terms of the deal are expected to be finalized within the next few months.