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3/20/2012 1:42 PM ET

Microsoft Corp. (MSFT: Quote) will finish work on Windows 8 this summer, setting the stage for personal computers and tablets with the operating system to go on sale around October, Bloomberg reported Tuesday, citing people with knowledge of the schedule.

The initial rollout will include devices running Intel Corp. (INTC) and ARM Holdings Plc (ARM) chips, making good on Microsoft's promise to support both standards, Bloomberg quoted the people as saying.

According to Bloomberg, the people said Microsoft will host an event for its industry partners in early April to spell out its release strategy for Windows 8, giving more details on timing and marketing.

The new version of Windows will be the first to use ARM processors, which are most commonly used in smartphones. Windows 7, the current version, only works with Intel's technology. Windows 8 features a new Metro-style interface that is designed for touchscreen input.

Microsoft shares are currently trading at $31.77, down 43 cents or 1.35%.

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