Sprint today announced its first Windows Phone 7 (WP7) device, the long-rumored HTC Arrive. According to a press release, the Arrive will launch on March 2 for $199.99 with a new two-year service agreement or eligible upgrade and after a $100 mail-in rebate in Sprint retail stores and online.

The Arrive features a sliding full qwerty keyboard and tilt-up 3.7-inch touchscreen display. Additional features include a Qualcomm 1GHz Snapdragon processor, 5 megapixel camera with 720p image and video capture, 16GB internal memory, with an additional 25GB of free storage on Windows Live and Wi-Fi.

Beginning today, customers can pre-order the Arrive at any participating Sprint Store with the purchase of a $50 Sprint gift card. HTC Arrive requires activation on one of Sprint’s Everything Data plans, plus a required $10 Premium Data add-on charge for smartphones.