At the WinHEC conference in China, Microsoft dropped a bombshell that Windows 10 now fully works on ARM processors. Not only that, but full Win32/x86 apps work 100% out of the box.
For some time now, it was suspected Microsoft was developing a Surface Phone that could run full Windows, but they've been extremely tightlipped on the matter. This leads new credence to those rumors suggesting that they've been working on just that.
On stage, they demoed the ARM version of Windows 10 running heavy hitters like the full version of Photoshop and Word. Perhaps we'll see a Surface Phone in 2017.
Image from concept-phones.com