Image by MobileCrunch
Microsoft's official announcement included the following:
"We have made the decision to focus exclusively on Windows Phone 7 and we will not ship KIN in Europe this fall as planned. Additionally, we are integrating our KIN team with the Windows Phone 7 team, incorporating valuable ideas and technologies from KIN into future Windows Phone releases. We will continue to work with Verizon in the U.S. to sell current KIN phones."
Meantime there are many rumors about the reasons who led to this decision (I can give you one: it's a fucked up phone that doesn't match our days…) – MobilitySite has some interesting gossip to tell about what's going on behind the scenes…