The LG Miracle, a Windows Phone handset aimed at the middle of the mobile market, is reported to be arriving at the Mobile World Congress (MWC) event later this month, according to PocketNow.

The Miracle moniker is just its developmental codename, so it could end up with a different title by the time it reaches the mobile buying public.

Artist renderings of the LG Miracle suggest that it will be a slender black smartphone with the usual Windows Phone menu buttons, arranged along the base of a four inch touchscreen display.

A 1GHz single core processor and a five megapixel camera are the only other features which are so far understood to be onboard with any kind of certainty.

Microsoft has proved that a 1GHz chip is more than enough to make Windows Phone run smoothly, but given that 1.4GHz is becoming the norm, thanks to models like the HTC Titan and Nokia Lumia 710, it seems slightly odd that LG would stick with this ageing clock speed.

However, one advantage of keeping things more basic is that the LG Miracle could well be one of the more affordable Windows Phone handsets on the market, joining the likes of the HTC Radar in being a capable smartphone which is easy on your bank balance.

Rumours suggest that the LG Miracle will have an NFC (near field communication) chip built into it, allowing for contactless payments and other interactions to be carried out in a similar style to the Samsung Galaxy Nexus.

If NFC is a feature of the Miracle, then there are suggestions that Microsoft will be enabling this feature across the board on Windows Phone handsets. This could pave the way for further NFC launches in 2012 and make Microsoft's platform competitive with Android on yet another level.

In fact, you could begin to argue that Windows Phone is now a far more sensible option for anyone who wants to invest in a moderately powerful handset which will come at an affordable monthly price.

While Android technically rules the roost at the high end of the market, thanks to models like the Samsung Galaxy S2 and the upcoming HTC Edge, the consistency and affordability of Windows Phone makes it an impressive mid range option, which will not suffer from any of the problems with platform fragmentation that plague lower end Android based handsets.