It is now established that Finnish mobile manufacturer Nokia is struggling with its products in the competitive smartphone market. According to reports, the company now has plans of developing a new phone to stay afloat. Stephen Elop, the CEO of Nokia, said that the rumours of Nokia manufacturing larger devices and handsets with better cameras are true.

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Elop told analysts that Nokia has a future strategy for its Lumia Windows Phone 8 devices and will be focussing on their prices, imaging capabilities and broader form factors. These recent comments have confirmed the rumours that the company is planning to launch a phablet device later this year.

The CEO went on to say that the next Lumia device will have a 41 megapixel image sensor for professional photography performance. Elop said, “You should watch for us in the imaging area to continue to advance the state of the art, like what is the best experience on imaging on devices”. There are predictions that the next flagship device will have a full HD display and will come wrapped in an aluminium coating, instead of a polycarbonate case.

Certain reports initially claimed that the devices were codenamed ‘Catwalk’ and ‘Eos’, while some images were also leaked on the internet which were later republished by a number of US tech sites.