A Microsoft-branded Lumia back panel pictured in the wild - posibly the Lumia 1330
So, yeah, it is obviously going to be a big phone and we can see that the opening for its camera sensor is also rather considerable – leaks support that Microsoft will equip the 1330 with a 14 MP camera – quite the upgrade, compared to the Lumia 1320's 5 MP snapper. The rest of the rumored specs list a 5.7", 720p display, a Snapdragon 400 SoC, 1 GB of RAM (some rumors claimed 512 MB of RAM, but come on), and a 5 MP selfie snapper – keeping with the trend, we see.
This will be the second Lumia device to bear the Microsoft branding and it will again be a budget device – the 13xx series are the cheap "versions" of the 15xx Windows Phone phablets. It is expected to be released in the first half of 2015, however, a US release may be delayed.
source: Baidu via NeoWin