As expected Nokia has announced the Lumia 1520 smartphone at its Nokia World event in Abu Dhabi and has been priced at a whopping £699. The smartphone is first to be announced since Microsoft announced it was buying Nokia's phone business. Updated on 04/11/13.

It's the phablet device which was leaked prior to the event codenamed 'Bandit'. So here's all the details for the new Lumia 1520 smartphone.

Nokia Lumia 1520: Release date

Nokia has said the Lumia 1520 will go on sale in a number of countries this quarter (by the end of the year), including the UK. When we have a more specific release date we'll let you know.

Update 23/10/13: The Carphone Warehouse has the Lumia 1520 listed in its 'coming soon' smartphones page with an expected date of 'October' suggesting the new smartphone will launch within the next week.

Nokia Lumia 1520: Price

The Lumia 1520 will cost around $749 excluding tax and subsidies, according to Nokia. We'll get you the UK price when it is available but we expect the Lumia 1520 to cost between £500 and £600.

Update: A UK price of £699 has been stamped on the Lumia 1520 at Alternate.co.uk, making it one of the priciest handsets around.

Nokia Lumia 1520: Specifications

Thanks to the latest update to Windows Phone 8, the Lumia 1520 is one of the first of the OS to offer features which we're used to seeing elsewhere, on Android smartphones for example. It's got a Full HD display and a speedy quad-core processor. See below for the full specifications.

Operating System: Windows Phone 8 with the latest updates.

Networks: GSM/EDGE: 850, 900, 1800, 1900 MHz; WCDMA: 850, 900, 1900, 2100 MHz; ROW LTE: 1, 3, 7, 8, 20; USA LTE: 2, 4, 5, 7, 17; HSPA+: DL 42 Mbps (Cat 24) / UL 11.5 Mbps (Cat 7)

Speed: LTE 150/50 mbps, DC-HSPA 42mbps.

Memory: 2GB RAM, 32 GB internal user memory; 7 GB SkyDrive cloud storage, micro SD card support up to 64GB.

Display: 6 in Full HD 1080p LCD, ClearBlack, High Brightness Mode, Sunlight readability, Super sensitive touch for glove and nail usage, Gorilla Glass 2.

Processor: 2.2 GHz quad-core Qualcomm Snapdragon 800.

Primary camera: PureView 20 Mp Auto Focus Zeiss optics with Optical Image Stabilization (OIS), 2x lossless zoom, oversampling technology, dual LED flash, 1080p @ 30 fps Full HD video with optical image stabilization.

Secondary Camera: HD 1.2 Mp wide angle.

Size & weight: 162.8 x 85.4 x 8.7 mm, 209 g.

Connectivity: NFC, A-GPS+GLONASS, dual-band Wi-Fi 802.11a/b/g/n/ac, μUSB, Bluetooth 4.0 LE, Accelerometer, Proximity sensor, Magnetometer, Gyroscope, Ambient Light Sensor.

Battery: 3400 mAh (integrated) with built-in wireless charging (Qi compatible).

Audio: Rich Recording with four microphones; Wideband Voice and multi-microphone noise reduction with four microphones; Dolby Headphone, Graphic equalizer, Audio leveling; FM radio.

Colours: Yellow, white, black and glossy red.

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