Today at a Venture Capital Summit, Microsoft CEO Steve Ballmer admitted a few things we all already kind of knew: Windows Mobile 7 is late as hell, and needs a lot of work.

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Twitter user Beninato quotes Ballmer in saying "This will not happen again" and "We've pumped in some new talent," and Pjozefak gives the blockquote in our headline: Microsoft screwed up with Windows Mobile, and it should have already launched. We've seen a few promising bits previews of Windows Mobile, notably the browser in the Zune HD (it's not perfect, but it bodes well), but Windows Mobile has been a stinker for years now and Microsoft had better bust out the big guns to get it right with WinMo 7. [Twitter and Babbling VC via WMPowerUser via MobileTechWorld via Engadget]