As I have written a post about Android Emulator for Windows Mobiles. Now the same emulator is available with a lot of new improvements to let you feel the real power of Android on your Windows Phone. Hackers are working to put the real Android OS on Windows Mobile. The new emulator version includes the NexusOne like boot screen. Now you can use accelerometer, bluetooth, telephone, SMS,3G, Wi-Fi, screen on/off, unlike previous version.
Visit XDA forum for more details and download
Checkout the video of Android Emulator on HTC HD:
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