Microsoft on its blog had confirmed that current Windows Phone applications and games will run on the next major version of Windows Phone aka Windows Phone 8 or Apollo.
“With regard to existing applications: today’s Windows Phone applications and games will run on the next major version of Windows Phone. Driving application compatibility is a function of Microsoft’s commitment to its developers. Regardless of what we release in terms of new developer features and functionality, we have made a large investment in protecting your existing investments,”
Silverlight for Windows Phone will be discontinued – at least in that way we know it today.
Please don’t panic; XAML and C#/VB.NET development in Windows 8 can be viewed as a direct evolution from today’s Silverlight. All of your managed programming skills are transferrable to building applications for Windows 8, and in many cases, much of your code will be transferrable as well.
More info at windowsteamblog
