Microsoft's Nokia Lumia 1030, believed to be the successor to the Nokia Lumia 1020, is being rumored to be unveiled in this year's second quarter. Along with the hearsays surfacing on the Internet about the Lumia 1030's release, rumors about the alleged device's features and specs are also floating around.

The smartphone, which was dubbed as McLaren, will reportedly run using the Windows 10 operating system, Ecumenical News wrote. This means that the Lumia 1030 could be the most powerful handset to be launched by Microsoft, giving the multi-national corporation an advantage over other leading Android smartphones available in the market.

Aside from the high-powered OS, the Lumia 1030 could also possess features "to provide users with a suitable alternative to Android smartphones," Ecumenical News noted. Its predecessor currently sports a remarkable 41 MP camera, which could mean that the Lumia 1030's shooter could have a 50 MP resolution. Speculations also state that Microsoft could introduce its 3D touch technology with next-generation sensors in the gadget.

Expectations also suggest that the Lumia 1030 will have "a complete metal architecture with a sturdy and solid frame that will be able to withstand a high amount of pressure," the news outlet reported. A 5.8-inch quad HD display with a 1440 x 2560 resolution and a quad core Qualcomm Snapdragon 805 processor is also expected for the device, Phone Arena added.

Device concepts for the Lumia 1030 also show that the smartphone's 41 MP PureView camera will be armed with LED and Xenon flashes, while the front-facing shooter boasts an 8.7 MP resolution. A 3 GB of RAM, 32 GB / 64 GB of internal memory and a 4300 mAh battery is also rumored to be included in the Lumia 1030. The gadget's outer appearance "doesn't look too thin, but at least the bezels around the display are kept to a minimum," Phone Arena wrote.

Based on the rumored information and prototype, PhoneDesigner has created some concept renders for the Lumia 1030. The images feature a huge camera bump on the purported gadget's back, which wasn't that different from the Lumia 1020. Check them out on their site.

Rumors are also suggesting that the Lumia 1030 could be waterproof for up to 50 meters in one hour, as stated by a report from HPS post. As of late, its predecessor is protected only by underwater cases. Realty Today reported that the Lumia 1030 could have a price tag around $1,000.

Senior Verge editor Tom Warren, on the other hand, put the rumors to rest when he shut down the news referring to the apparent existence of the smartphone. In a tweet, he announced, "There is no Lumia 1030 right now. The leaked device is the canceled Nokia McLaren. It was never a 50-megapixel camera, just around 20MP."