Much has been said of Nokia’s tablet ambitions, and many have speculated on when the Finnish telecommunication giant will launch its very own tablet device.

But it seems that before a slate, we will be treated to a Lumia phablet.

Several outlets have claimed that such a device was in development — with Financial Times asserting a couple of weeks ago that a phablet powered by Windows Phone was set for release later this year.

Now another report has popped up over in the UK. This time Mobile Magazine is doing the talking, saying they have the lowdown on this upcoming phablet device from the Finnish company. No specific source has been cited, but plenty of details accompany the report, nevertheless.

Word is that Nokia plans to launch the phablet (a device large than a smartphone, smaller than a tablet) in the fourth quarter of the year. The device is said to be powered by Windows Phone 8, and sport a 6-inch display with a 1080p resolution.

Expected pricing of this phablet is said to be in the $620 to $775 range — quite in line with what the company’s current flagship smartphone, the Lumia 920 retails for.

The Windows Phone 8 platform itself has been rumored to get a bunch of new features this year, in order to accommodate large screen devices and increased display resolutions, along with quad-core processors.

These improvements are said to be part of the GDR3 (General Distribution Release 3) update to the operating system, which is scheduled to be made available before the year is out.

This new update coincides quite nicely to the rumored release of the Nokia phablet — in other words don’t be surprised if you see a Lumia phablet on the market before the all-important Holiday season.

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