Microsoft Lumia is set on putting a wide array of smartphones, and it seems that their biggest selling point for the Lumia 940 is the Windows 10, as it will be the first model noted by Gospel Herald to boast of the new version of the OS.

However, considering that the Windows 10 might be available summer 2015, according to Tech Radar, it seems that the actual release date of the Lumia 940 is still in question, although Tech Times reported that the device is set to be released later this year, possibly around the same time as Windows 10.

With a high-end processor such as the Windows 10, Tech Times added that Microsoft could potentially install the new flagship phone with octa-core CPU with a 3GB RAM for backup.

Not much has been confirmed about the specs of the new phone, however, Tech Times wrote that another selling point comes mainly from its rumored 25MP Pureview rear camera that can shoot 4K videos with up to 60 frames per second. You practically won't need a DSLR considering that the powerful camera has Pureview technology with optical image stabilization adn f/2.8 aperture for better lighting. The front camera is not too shabby with 5 or 8MP snapper, either.

The tech site added that it may also have a 5.2-inch display screen with 1080p resolution with Gorilla Glass 4 protection and like most smartphones these days, the Lumia 940 is expected to come with a counterpart: the Lumia 940 XL. These Microsoft-operated phones seem to be gearing for a head-to-head battle with the Apple iPhone 6 and iPhone 6 Plus, as Microsoft's flagship models are expected to have interesting, well-designed features including iris-scanning capabilities, Dual SIM card, and built-in upkeep for the pen stylus as well as 3D-like interactions, Tech Times explained.

For the Lumia 940 XL, rumors from Venture Capital Post say that it will have an Intel Atom x7 64-bit quad-core processor with 5.4-inch Super AMOLED display and Quad HD resolution. It is to hav 4GB of RAM and 32 GB of storagae that can support up to 128GB via a microSD card, a 24.2 rear camera, and 8MP front camera.

The concept design of the model, as noted by VC Post, is said to have a 6.8mm thickness, PureView technology for both its cameras, and Carl Zeiss optics, as well as dual LED flash and 2160p video capture. It will also come in a range of colors including black, green, orange, and silver / white.

Meanwhile, PC Advisor estimated that the Lumia 940 might cost around £435 (roughly $670).

While these specs for the Lumia 940 and Lumia 940 XL seem to be great, the International Business Times reported that a previously leaked photo of these models were reported to be fake. According to WM Power User, closer observation of the image revealed that it was a photoshopped version, with the body of the device being that of the Lumia 830.

However, fake photo aside, what do you think of the upcoming new models?