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Microsoft Lumia 940 rumors arose after the first Lumia 535 without Nokia branding was launched as Microsoft aims to manufacture midrange phones with high-end features.

Phone Arena also obtained a spec sheet of the upcoming Microsoft Lumia 940 and some features had been revealed.

According to reports its spec sheet has revealed that it will be sport the Windows 10 mobile OS, and Microsoft is rumored to upgrade its Lumia handsets to Windows 10 mobil late next year.

Microsoft Lumia 940 rumors suggest that it may sport a 5.0-inch screen with a full HD (1920 x 1080) display resolution. One of the first smartphones to sport a Gorilla Corning Glass 4 like on rumored Huawei Ascend P8. It's also a full millimeter thinner than the Lumia 930 announced back in April. The Lumia 940 dimensions was also included in the spec sheet it measures 137 x 71 x 8.9 mm and weighs 149g.

It speculated that the Microsft Lumia might house a Snapdragon 805 chipset with a quad-core 2.7GHz processor and an Adreno 420 GPU. As per Tech Buffalo, "The device is listed as running Windows 10, which won't officially launch until late next year."

It may havae three storage variants, 32GB, 64GB, and 128GB supported by a 3GB of RAM without a microSD card support.

Like its predecessor the Lumia 930 it will sport a high-end camera at 24-megapixel PureView with 60 fps video recording and a 5-Megapixel front camera.

Meanwhile, Microsoft is said to be on the works on a new Windows phablet, to be called the Lumia 1330.

Tech Buffalo added that. "The new phone could be an upgraded version of last year's Lumia 1320, offering mid-range specs at a budget-friendly cost."

Check out for more Microsoft Lumia 940 news from us! Stay tuned.