Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) may be working on more than one phablet and even a high-tech mid to low range smartphone, according to the latest rumors. These latest rumors come courtesy of NokiaPowerUser blogger Pradeep, who says there are phablets and “a low cost Lumia 920” on the way.

Lumia 920

We heard last month that Nokia may look at releasing oversized phablets next year, so this new rumor moves up the time frame a bit.

Nokia’s ‘Low Cost Lumia 920’?

Now I have to admit that I was confused at first by the term “low cost Lumia 920” because we have several phones in the Lumia line which cover a broad range of prices. Judging from the comments on the site, so were others. But this device appears to be more of a replacement for the Lumia 820, but with a few important upgrades. If the rumored pricing on this device is right, then it may have some of the highest specs in the mid to low range smartphone market.

The low cost version is rumored to be coming out in the next quarter and have a 4.7 inch WXGA CBD AMOLED screen with an 8 megapixel camera. The camera will have an F/1.9 lens, although unlike the 920, it won’t be stabilized. However, putting a 4.7 inch display and high resolution to a lower cost device that is expected to take on the low cost iPhone would indeed make it stand out from other mid to low range priced smartphones.

Nokia’s Rumored Phablets

As early as this fall, we might see Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V)’s first phablets. The one that’s rumored to launch in October is expected to have the Lumia 925’s low light PureView camera and stabilization for video. It is also expected to have a display size between 5.5 and 6 inches.

In February, the Finnish company is expected to release a phablet with an even more impressive camera. It’s an extension of PureView technology which includes a Lytro-style camera which comes with 16 lenses. The different lenses enable users to select their focus point and make adjustments to the background blur or other elements of the photo after they snap it.

Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) shares rose as much as 2.76 percent in pre-market trading on Monday after gaining 2.55 percent during the regular trading day on Friday.