Today in Tech: Nokia-Microsoft phone photos, cheaper iPhone coming by JP Mangalindan @FortuneMagazine February 14, 2011, 11:19 AM EDT E-mail Tweet Facebook Google Plus Linkedin Share icons A curated selection of the weekend’s most newsworthy tech stories from all over the Web. Nokia CEO Stephen Elop. Photo: luca.sartoni, Flickr Nokia CEO Stephen Elop revealed over the weekend that Microsoft outbid Google and will pay Nokia “billions” for the right to have its recently-introduced Windows Phone 7 operating system run on the handset maker’s devices. Elop also hinted the first Windows Phone 7 are likely to come out this year instead of next. (Computerworld) CityVille-maker Zynga is in talks with potential investors about raising around $250 million in new funding in a deal that could value the three-year-old start-up at between $7 billion and $9 billion. (Wall Street Journal) Borders could file for Chapter 11 bankruptcy protection today or tomorrow. (Los Angeles Times) If you’re already an iPhone user, then you’re used to shelling out $199 or $299 for the newest model. But as Bloomberg reported last week and The Wall Street Journal writes this week, Apple is rather far along in developing a new line of iPhones that will be significantly cheaper and better position the Cupertino-based company against the growing legion of competitively-priced smartphones out there. This new phone — what some internally reportedly called the N97 and what members of the press have dubbed either the “iPhone nano” or “iPhone mini” — will be roughly half the size (and price) of the iPhone 4, as well as significantly lighter with an edge-to-edge screen. As an added bonus, Apple may also make its cloud-computing service, MobileMe, free instead of asking for the $99 annual subscription fee it’s charged in the past. (Wall Street Journal) No surprise here, but Apple tops Barron’s list (again) of the 100 most-respected companies, with 68% of surveyed professional money managers saying they highly respect it, and 0% reporting they don’t. (Fortune) An insightful look at groups of successful alum, or “mafias,” of notable Silicon Valley companies, from Fairchild Semiconductor to PayPal and Facebook. (TechCrunch) Adobe will soon release a mobile version of Flash Player 10.2 for Android 3.0 Honeycomb and BlackBerry’s Tablet OS. The updated version significantly cuts down on a device’s processor usage and battery drain by letting the phone’s hardware (instead of the software) decode and render video. The company predicts that over 132 million smartphones will support Flash, 36% will ship with it on Day One, and more than 50 tablets — Apple’s iPad of course being the most notable exception — will ship with Flash onboard. (CNET) Here’s early concept art of a Windows Phone 7 phone from Nokia, confirmed by the handset maker. Excited? (Engadget) Photos: Engadget Sign up now to get Today in Tech emailed to you each and every morning.