Fresh on the heels of all the Verizon+Apple hoopla is talks of a Verizon+Microsoft partnership working to create a true iPhone competitor.

According to the Wall Street Journal, the two companies are discussing the launch of a “touch-screen multimedia cellphone on the carrier’s network early next year.” Perhaps the best part of this rumor is the projects code-name – “Pink” – which “is aiming to produce a phone that extends the tech giant’s Windows Mobile cellphone operating system, adding new software capabilities.” An iPhone killer named “Pink.” Seriously, you just can’t make up stuff this good.

Not surprisingly, although Big Red and Big Redmond are working together on the design, its expected that a third-party will end up making the device, a la Google and its Android phones.