By Michael Oleaga / m.oleaga@latinospost.com (staff@latinospost.com) | First Posted: Jun 19, 2013 05:20 PM EDT

A "phablet" by Finnish-based company Nokia may make its debut later this year, according to a new report.

NokiaPowerUser's sources stated a September or October release date is likely with five to 5.6-inch screens and a camera module akin to the Lumia 925.

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According to the source, the phablets, which is a term used for devices too small to be a tablet but bigger for a smartphone, will see a second launch in Feburary 2014 with "higher megapixel numbers and that 16-lens lytro style camera."

However, the first phablet allegedly coming this fall will also see a low-cost model of the Lumia 920. According to a tip, the low-priced Lumia 920 will have a display of 4.7 inches with WXGA CBD AMOLED. In addition, the device, looking more like the Lumia 720, will have an 8-megapixel rear-facing Carl Zeiss camera but no OIS. However, the information about the low-cost Lumia 920 is unconfirmed.

As Latinos Post reported, Nokia is scheduled to host an event on July 11 from New York City. The specifics for the event were not disclosed but an invitation featured the tagline "Zoom Reinvented," perhaps a reference to an improved camera specification or device.