Following the first update to Windows Phone 7 in January 2011 at CES, which will introduce copy and paste functionality, Microsoft is planning to unveil a second one the following month at the Mobile World Congress. Microsoft CEO Steve Ballmer will hold a keynote at the event, marking one year after the company first unveiled the rebirth of its mobile operating system.

Microsoft's second update will be a significant one as it will introduce enhanced developer controls for applications. "The update includes some great new features for developers, Windows Phone 7 apps in 2011 will certainly become more interesting," according to an anonymous source quoted by Winrumors. Microsoft will reportedly open up several new APIs that will allow improved multitasking, in-app downloads, and better customization.

The rumored schedule (an update in January and an update in February) makes us wonder if Microsoft would be able to release Windows Phone 7 updates on a monthly basis. So far, it doesn't look like it since the first one is reserved for next year. That being said, if Microsoft could start delivering an update every month in 2011, the company would definitely be able to gain on Android and iOS.

Microsoft is currently refusing to reveal Windows Phone 7 sales numbers. It is also not saying when it hopes to gain on its competitors in terms of features nor in terms of market share. Frankly, we knew that Microsoft was in it for the long run, so we're not too worried that the company is keeping quiet about results. Nonetheless, it's not helping perceptions of the operating system's potential.