To suggest that Nokia has created the ultimate in smartphone cameras is a bit of an overstatement and understatement at the same time. The camera, which we/I’ve detailed extensively is nothing short of a marvel in phone photography, on the other hand, is a Windows phone smart? While Nokia released a significant update today called “Amber,” for many an update that isn’t Android or iOS will not be update enough. At 41 megapixels, this thing is fantastic.

Nokia

In China, however, you will pay a pretty penny for fantastic. The unlocked version will cost you 5,999 RMB/Yuan, or about $973. Given the considerably lower prices for phones in China, this price represents a premium that a small percentage can afford to pay. Though, it is China, so that same small percentage can probably afford to buy one for each guest at a business lunch without sweating it too much. That price represents a number very close to what you would pay for an unlocked 32 gigabyte iPhone 5.

The phone took center stage Thursday morning at a launch event held by Nokia China’s general manager, Erik Bertman, and several partners of his yesterday. Today, for most of the readers on this site.

Nokia Lumia 1020’s Unlocked Version

In addition to the unlocked version, the Lumia 1020 will initially be sold by China Unicom. Unicom, in an effort to appeal to the less grossly wealthy  will offer the phone at 999 yuan ($163) down and then 386 yuan ($63) over a period of three years, according to WMPoweruser.

While Unicom will have an exclusive distribution agreement for a while, China’s largest telecom provider, China Mobile, will not be far behind. When they will begin to offer the Lumia 1020 remains anyone’s guess, but expect that it won’t take long. No word was given as to incentives that China Mobile might offer to its customers.

Specs Of Nokia Lumia 1020

Past its highly superior camera, the Lumia 1020 comes with a 4.5-inch display, a dual-core 1.5GHz Snapdragon processor, 2GB of RAM, and 32GB of storage. Unfortunately, the storage is expandable but formidable. Once again, this is not the phone for you if you have no designs on utilizing its incredible camera. It may, however, represent something that gets Nokia back in the smartphone game.