Make sure you’re powering your board correctly and that the switch SW1 is towards the micro USB port, not the USB port. When you are going to connect to Putty you should select the port labeled as “USB Serial Port (COM X)”in the Device manager. Do you see this port in the Device Manager?
I’d suggest you to look at this guide https://software.intel.com/en-us/get-started-edison-windows-32-step2 and follow the steps required to install the drivers needed.
Let me know your results.
Have you tried to reflash your board?
https://software.intel.com/en-us/articles/flash-tool-lite-user-manual . Follow this guide and let let us know your results.
I would like to know if you have updates on this? Have you been able to use Putty with your board? Have you tried with different USB ports and cables?
You can also try by flashing the board with the flashall script instead of the Phone Flash Tool Lite: https://communities.intel.com/docs/DOC-25154
Could you attach a screenshot of what you have on your Serial Settings on Putty? Are you using 115200 as speed?