File this under someone else’s rumor, namely WP7Fourm.ru, but we like the guys over there, and they’ve generally had things right in the past. According to a ‘trusted source’, the first Lenovo Windows Phone could be finished as early as April, with an early summer time-frame for an actual release.

Microsoft only announced on Sunday that Lenovo – along with LG, Foxconn and others – have joined the Windows Phone camp. Besides the growing popularity of the OS, three other reasons why many companies are now on board was the reduction in hardware controls, e.g. software keys are a go, new Snapdragon chipsets and the Qualcomm Reference Design. All three of those changes significantly reduce development costs for OEMs who also make Android phones.

Lenovo’s first Windows Phone is not expected to compete at the high-end though, so don’t expect that ‘ThinkPhone’ just yet. Instead, WP7Forum.ru claims the device will be mid to low range with a Qualcomm Snapdragon 400 or 600, and the price will be lower than the sum of 15,000 rubles. Screen size will reportedly be in the 4.5-5 inch range.