Microsoft's first Windows Phone 7 update is expected to be announced at the company's keynote at CES 2011 this week, though it's unlikely to make it out to carrier distribution until February. That's the word from Windows Phone Secrets' Paul Thurrott, who says the first update will add copy and paste functionality along with support for the Qualcomm 7×30 chipset, a CDMA location stack, and a number of software fixes.
Meanwhile, update codename "Mango" is expected later in the year, and will be a more significant upgrade altogether. Internally referred to as the "entertainment" branch, it will bring Internet Explorer 9 with with the Trident 5 rendering engine, HTML 5 and Silverlight support, and gestures. This is the rumored Windows Phone 7.5 branch, though Microsoft will not apparently refer to itself as such.