Nokia Corporation (ADR) (NOK) is Working on TWO MegaPhones? Rumor Has It …

Nokia Corporation (ADR) (NYSE:NOK) has certainly been aggressive at building up its Lumia line of smartphones that run on the Windows Phone operating system by Microsoft Corporation (NASDAQ:MSFT) over the past six months in an obvious attempt to not only drive up sales but also to increase margins to drive the company back to profitability and relevancy in the smartphone market – one which Nokia dominated until the advent of the iPhone in 2007 by Apple Inc. (NASDAQ:AAPL).

Over the last several months, as these flagship Lumia handsets  had their separate moments in the sun, there was speculation and rumor that Nokia Corporation (ADR) (NYSE:NOK) would jump into the megaPhone market to compete with the Samsung Galaxy Note, but when Windows Phone 8 came out, it was only designed for a display of no more than 4.5 inches. The talk died down for a while after that, but then resurfaced when Microsoft Corporation (NASDAQ:MSFT)revealed that an update to the operating system would allow for better resolution displays and larger displays by adding another set of titles. Talk of a megaPhone by Nokia heated up once again in earnest, even with details that this new model would be bigger than the Samsung Galaxy Note  by boasting a 6-inch display.

But now there is a new rumor popping up that seems to suggest that Nokia Corporation (ADR) (NYSE:NOK) could be working on not one, but two megaPhone devices – one to be released this fall and the other perhaps in time for the Mobile World Congress conference in February. Oh, and there is also some rumbling about a low-cost iPhone competitor in the Lumia line, a handset that would be a cheaper version of the 920 flagship.

First, let us look at the two megaPhone rumors. The first megaPhone that Nokia Corporation (ADR) (NYSE:NOK) is currently working on would have a screen size of about 5.5 to 6 inches and would have PureView camera technology that would be similar to what is on the Lumia 925 handset – which allows for low-light photography and video stabilization  to offset wobble or shaky hands. This  device is rumored to come out in October.

The second megaPhone supposedly gearing for a February release is expected to have PureView technology integrated with Lytro-style camera technology involving 16 lenses. The technology apparently will allow for focus of the scene to be adjusted after the picture is taken, not just before the shutter button is pushed.  This new camera will supposedly have a higher resolution than current Lumia models, which max out at 8 megapixels currently.

Now what about this budget iPhone killer?