According to the specifications sheet the Lumia 1020 will be powered by a Qualcomm Snapdraon processor clocked at 1.5GHz, and will have 2GB RAM, 32GB internal storage (no mention of microSD card slot), 7GB bundled SkyDrive storage, 41-megapixel PureView rear camera with optical image stabilization, backside-illuminated sensor and an Xenon flash, which will be able to capture 1080p videos at 30fps.

The Lumia 1020 will boasts of a 4.5-inch AMOLED HD+ Gorilla Glass 3 display with 1280 x 768 pixel resolution. Some of the features included by Nokia are high-brightness mode and Sunlight Readability.

In terms of connectivity the specification sheet shows GSM 850/900/1800/1900, WCDMA 2100/1900/900/850, LTE bands 1/3/7/20/8, HSPA+ DL Cat 24, dual-carrier 42.1mbps/UL Cat 5.76mbps. Further the phone has NFC, Bluetooth 3.0, 802.11 a/b/g/n, GPS, and USB 2.0. Lumia 1020 will support wireless charging and will be equipped with 2000 mAh battery.