Neowin is reporting that they have received information from sources close to Microsoft that claim the company will be launching the first Windows Phone 7 devices on October 21st.

According to the report, Microsoft will hold several worldwide launch events on October 21st, as well as an event in New York City on October 11th where the company will show off some the devices that will be launching. Windows Phone 7-based devices are set to launch on October 21st in the UK, France, Germany Italy and Spain. It is unclear whether the U.S. will also be part of this October 21st launch.

Microsoft is planning to partner with a big London based radio station in the UK to promote Windows Phone 7. Orange, a long time Windows Mobile partner of Microsoft's, is also expected to be a close launch partner for Windows Phone 7. If you thought you'd heard a lot about Windows Phone 7 recently then prepare to be bombarded with a major advertising blitz from Microsoft shortly. The Redmond based company is planning to go all out on Windows Phone 7 marketing.

Just over this weekend, Microsoft accidentally posted two advertisements showing off the HTC Mondrian running on Windows Phone 7 and AT&T's network.

Finally, Boy Genius Report is noting that they have received information from a Microsoft spokesperson, claiming that Windows Phone 7 will not support Internet tethering. The spokesperson clearly stated: “Windows phone 7 does not support tethering.” There's no question that the lack of Internet tethering on Windows Phone 7 devices will be a deal-breaker for some, especially considering the iPhone and many Android devices can do it.

UPDATE: Engadget is reporting that Microsoft expert Paul Thurrott believies Windows Phone 7 devices will be hitting U.S. retail store shelves on November 8th, about three weeks after the October 21st launch date in other countries.