Microsoft is set to launch its new My Phone service online at the upcoming Mobile World Congress wireless show starting February 16.

My Phone syncs information on a mobile phone to a storage space on a Web site hosted by Microsoft. The cloud service allows mobile users to manage contacts, appointments, text messages, photos and videos.  Most phones that run Windows Mobile 6 operating system are compatible with My Phone Service.

Microsoft is hoping My Phone will be an answer to cloud services offered by Nokia, Apple and Google.

My Phone gives users 200 MB of free storage on the Microsoft My Phone Web site. If users exceed the limit they will receive an error message on their phone and their account will only include information received prior to reaching the limit.

Microsoft says it does not charge a fee for the My Phone service but the data plan users have with their mobile carrier my require data- transfer charges when they use the service.

Competitors include Apple’s MobileMe, Nokia’s Ovi and Google’s GrandCentral service.

Microsoft’s share of the smartphone market increased from 11 percent in 2007 to 13.3 percent last year, while Apple tripled its share during the same time, growing from 3 percent to 9 percent, according to IDC.