Cheaper smartphones running Microsoft’s Windows Phone operating system are on the way, a Microsoft executive said Wednesday. Speaking at the Computex trade show in Taipei, Microsoft’s Nick Parker, who handles the company’s partnerships with device makers, said the new handsets could be out by the end of the year. Compared to current models, which are in the “fours, fives and sixes,” he said referring to prices between $400 and $699, the new phones would have price points in the “ones, twos and threes.”