Motorola to present its iTunes phone on Thursday (UPDATE)

Newsweek reports that Motorola will release its long-awaited iTunes compatible phone as soon as this week.

Apple had announced a partnership with Motorola last year, allowing the company to produce a mobile phone that will play songs bought on the iTunes iTunes Music Store.

UPDATE: Motorola has postponed the iTunes phone launch which was set for today. More details on the characteristics of this phone also emerge. Read more here.