The Windows Phone 7-based HTC Trophy will be available on the airwaves of Verizon Wireless with a price tag of $149.99 after a $50 mail-in rebate and the two-year service contract, starting May 26.

The Trophy comes equipped with a single-core 1GHz Snapdragon chip, a 3.8-inch touchscreen, a 5-megapixel camera, a 720p HD video camera and SRS WOW HD surround sound.

It may be noted here that the size of the screen is well below those of some other new smartphones, such as the Motorola Droid X2, which boasts of its 4.3-inch touchscreen.

The smartphone has got something called the "Music plus Video Hub," which allows users to download tracks and clips. Like other Windows Phone OS-based handsets, the Trophy also features Microsoft Office apps as well as an Xbox Live app for mobile gaming.

The Trophy, which comes with 16gigabytes of memory, will run on Verizon’s 3G wireless network.

Smartphones based on Microsoft’s WP7 operating system have been facing cut throat competition from Android and iPhone handsets. According to figures released by Gartner, manufacturers could sell only 1.6 million units of WP7-based handsets during the first quarter of this year.