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It looks like the first Nokia smartphone powered by Windows Phone will be released in 2012.

Nokia recently announced support for Microsoft’s Windows Phone OS. The Finnish company is quite popular in India, one of the booming BRIC markets. Nokia India’s Managing Director, D Shivakumar, recently told Daily News that the first Windows Phone will be released in about a year’s time.

Nokia users should forget about Windows Phone 7 in its current version though, as Shivakumar said that Nokia is betting on a new version of Windows Phone that is better than previous versions. This version should the upcoming Mango update, which should be released to manufacturers in Q4 2011.

Microsoft recently announced several upgrades for Windows Phone in 2011, and an IE9-based browser is expected to be part of the Mango update. Some rumors are suggesting that the Mango update will be hit by a delay, but at least Nokia already has a prototype of a Windows Phone smartphone in a lab on Iceland.

According to Shivakumar, Nokia plans to release around 20 Symbian smartphones in 2011, however, so we’ll keep our fingers crossed for a big Symbian high-end splash later this year. In the years ahead, however, Shivakumar believes Nokia will give Windows Phone a significant footprint in India.