Skype, which is now owned by Microsoft (NASDAQ:MSFT), is present on all major mobile platforms including Google‘s (NASDAQ:GOOG) Android, Apple‘s (NASDAQ:AAPL) iOS and Symbian, but ironically, there is no Skype app for Microsoft’s Windows Phone platform.

At CES 2012, Microsoft revealed that it’s coming out with a Windows Phone Skype product soon.^[1] Microsoft acquired Skype back in May 2011, and recently closed the acquisition. With Skype, it plans to compete with Apple and Google in the mobile space, and Cisco (NASDAQ:CSCO) and LifeSize in the enterprise video conferencing space.

Check out our complete analysis of Microsoft

Microsoft plans to integrate Skype with its other offerings such as Office, Windows, Xbox and Windows Phone. It has more than 750 million users worldwide, many of whom are active on mobile. We don’t expect Skype for Windows Phone to have any significant impact on either Skype’s or Windows Phone’s user base.

We currently have a $32 Trefis price estimate for Microsoft, which stands nearly 15% above its market price. Windows Phone and other devices account for nearly 8% of its total value, while Skype accounts for nearly 1%.

Earnings on Deck

Microsoft is set to announce its earnings for Q2 FY12 later this week. Though Windows sales have slowed down considerably, we expect the Windows and Office business divisions to continue to be Microsoft’s primary revenue engines.

In the last couple of quarters, Entertainment devices have contributed largely to Microsoft’s revenue growth. We expect that trend to continue as Xbox sales stay strong and Windows Phone sales pick steam following a strong showing at CES 2012. Microsoft competes primarily with Apple‘s (NASDAQ:AAPL) Mac OS X in the operating system space, and Google (NASDAQ:GOOG) Docs in productivity software, its two major markets.

See our earnings preview note: Microsoft Earnings Preview: What We’re Watching This Week

Understand How a Company’s Products Impact its Stock Price at Trefis

Notes: