Speculation has the phablet launching in November and it will be the first Windows Phone model to come with the GDR3 update that allows Windows Phone to support 1080 x 1920 FHD resolution screens, and a quad-core Snapdragon processor. Also rumored to be part of the GDR3 update is a Driving Mode that disables certain functions of the phone while you are driving and the phone is paired with the car's bluetooth radio. A rotation lock which freezes the orientation of the phone screen in portrait or landscape, will also be part of the update along with improved mutitasking capabilities and a revised homescreen.
The Nokia Lumia 1520 closes the specs gap with Android and it should be interesting to see if the GDR3 update marks the beginning of a surge in Windows Phone's popularity.
source: @evleaks via Pocketlint