The latest theoretical proposal in terms of applications for Apple’s iPhone belongs to none other than Microsoft, who seems to be looking forward to a lucrative investment and exploit the profit opportunities offered by the launch of the SDK earlier this month.

Corporate Vice President of Microsoft’s Specialized Devices and Applications Group Tom Gibbons told Forbes in an interview earlier this week that “it’s really important for us to understand what we can bring to the iPhone. To the extent that Mac Office customers have functionality that they need in that environment, we’re actually in the process of trying to understand that now.”

The iPhone already proved to be a hit on the market, the possibilities are endless and Microsoft is ready to take advantage of that. The Redmond-based company has long time been developing applications for Mac, why wouldn’t they work on the iPhone as well?

Apple already licensed Microsoft’s ActiveSync protocol to bring iPhone users e-mail connectivity on an Exchange server. We can’t help but wonder how will a future Microsoft application for the iPhone will look like and what will that be?

Gibbons said they were confident in their ability to work something out for the iPhone, but “the key question is, what is the value that we need to bring? We’re still getting comfortable with the SDK, right? It’s just come out. So we had a guess as to what feasibility would be like, now we’ll really get our head wrapped around that.”

Everyone is now wondering what Microsoft wants to bring in terms of application to the iPhone. No rush though, as Apple will only release the final version of the SDK in June, and Microsoft has plenty of time to think of something, if it hasn’t already. So we’ll just have to be patient and wait…