It's an interesting question, one that's sparked a lively conversation in the Windows Central forums. Of course, nobody outside of Redmond really knows whether or not Microsoft has any plans to release a new phone. So all the hoping and wishing may be for naught. But that won't stop us from speculating.
Forums member faisalbaba created a thread to discuss the whole Lumia-vs.-Surface thing.
Personally, I think it would be foolish for Microsoft to brand a new phone (or any new device) as a Lumia. That brand is associated with failure, like it or not, even though many of us love (or loved) our Lumias in the past. The Surface brand is much stronger right now — despite a recent Consumer Reports study that may have tarnished its image a bit.
The forum thread has already received quite a few responses, and not everybody agrees with my take. What do you think? Are you on Team Surface or Team Lumia, when it comes to a possible new phone from Microsoft. Hit the link below, make your way to the forum, and chime in with your $0.02.