The Nokia Lumia 1320 is an affordable phablet on the Window’s Phone platform. It comes with a 6-inch screen 720×1280 resolutions and a dual-core 1.7GHz Snapdragon S4 processor. However, the back camera is a mere 5MP which is way below the industry standard.
The Sequel that is being dubbed the Lumia 1330 has some speculation specs already. The specs are a 5.7-inch display, 720×1280 resolution a quad-core Snapdragon 400 CPU, 1GB of RAM with 32 Gb of onboard storage. While these are just speculations the biggest improvement might be the camera, for the 1330 is expected to have a 14MP PureView back camera and a 5MP camera on the front. While the Nokia Lumia 1320 has a better screen the resolution is the same and thus you will have a higher quality screen.
While there is no official announcement, it is expected to be announced come March at the MWC. It is also expected to come with Windows 8.1 preinstalled.
There are also going to be four different variants of the phone dubbed the RM-1062, RM-1063, RM-1064, and the RM-1065.