Microsoft (NASDAQ:MSFT) has introduced the latest version of its Internet Explorer Mobile, which adds desktop-grade Web browsing to Windows Mobile phones. In addition, the company has unveiled Windows Mobile 6.1, an update to its Windows Mobile software that includes new timesaving features, easier phone navigation and management, and increased security.

Available in the third quarter of 2008, the new version of Internet Explorer Mobile allows users to view full-screen Web pages and multimedia on their smartphone. The Windows Mobile update includes quicker phone setup; the ability to flag, delete or move groups of messages and keep track of conversations through threaded text messaging; and a feature that helps businesses manage and administer security for phones while enabling employees to access information remotely.

"People want a single phone that's flexible enough to meet their needs throughout their day, whether it's connecting to work or your everyday life," Robbie Bach, president of the entertainment and devices division at Microsoft, said in a statement. "The innovations we've added to our Windows Mobile software ultimately make it easier to manage your world."