The Windows Phone manufacturer will be using a Qualcomm reference design and select a camera, LCD display, memory, sensors, and a touch controller. This surely should end the talk about Microsoft eventually keeping all Windows Phone production to itself after the deal to buy Nokia's Devices and Services division closes.
This also might allow Windows Phone to fight in the trenches in emerging markets against low-priced Android models. Yes, the Nokia Lumia 520 did very well in those markets, but in China, a quad-core powered Android model can be bought for the equivalent of $130 USD. Perhaps smaller manufacturers overseas will use the portal to bring similar Windows Phone models to those regions.
source: WindowsPhone via WMPoweruser