It won’t be long before Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) unveils the Lumia 1520 phablet.There have been several leaked images and press releases of the phone in the past months. There have also been rumored specifications for the gadget, including a full high-definition display, quad-core processor, and 20-megapixel camera. The phone will also come with an updated version of the Windows Phone 8 operating system.

Nokia Lumia 1520

There was another leaked image of the phone from @evleaks. The phone featured in the photo was red, and it’s reported that it will debut sometime this year. Since Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) recently announced an upcoming press conference for October 22nd, it’s safe to predict the debut of the Lumia 1520.

Lumia 1520 may be Nokia’s last smartphone

BGR explained, “The Lumia 1520 phablet will likely be the last smartphone Nokia ever launches. The company announced earlier this month that it will offload its devices business to Microsoft as part of a $7.2 billion deal. And while the Lumia 1520 may be Nokia’s last smartphone, it will also be full of firsts: Leaked specs suggest the 1520 will be Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V)’s first phablet with a 6-inch display, its first smartphone to feature full HD resolution, and its first phone to be powered by a quad-core processor.”

Microsoft is struggling in the tech market

Only time will tell what Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V)’s future with Microsoft Corporation (NASDAQ:MSFT) will look like, especially since current chief executive officer Steve Ballmer plans on leaving sometime within the year. It’s true that Microsoft Corporation (NASDAQ:MSFT) is struggling in a tech market that’s focused on mobile technology. With companies like Apple Inc. (NASDAQ:AAPL) and Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) taking the lead in sales, it’s easy to see why the company is a little concerned. The tech giant, which once was a leader thanks to personal computers and laptops, has lost ground. Consumer interest has shifted to more mobile devices and everyone demands more. It should be interesting to see if they change the market in a positive way.