Rumors of a new Windows Phone codenamed the Nokia EOS have been put to rest as the officially named Nokia Lumia 1020 has been confirmed be released at Nokia’s launch event on Thursday, July 11 in New York City. The Finnish communications company recently dispatched invitations to the event which promises “Zoom. Reinvented” to fans and users everywhere.

The Lumia 1020 has gained substantial notoriety for its hefty 41-megapixel camera. Nokia has been perfecting its PureView imaging technology with its previous handsets, all culminating in the Lumia 1020’s Carl Zeiss lens. The great thing about the Lumia 1020 in tandem with its extreme clarity is the ability for the user to take snapshots in multiple aspect ratios. The camera will use 31 megapixels when shooting in 16:9 and 38 megapixels when shooting in 4:3.

Other goodies included with in the Lumia 1020’s imaging repertoire include the Nokia Cam app which allows for zooming up to 11x, anti-shake, and manual focus features. Few other details have been leaked including price and consumer availability.

As for the under the hood, it’s thought the Lumia 1020 will sport an OLED display with 768 x 1280 resolution, 32GB of internal storage, and a polycarbonate body. There will be no support for microSD and nothing has been mentioned in terms of memory or battery. It will run on Windows 8, though it could operate on the updated Windows 8.1 version when Microsoft launches it.

This afternoon a Nokia executive posted snapshots to the popular photo-sharing network Flickr. The images were visibly better than those of rival smartphones like Apple’s iPhone 5 and Samsung’s Galaxy S4, but that should come as no surprise as Nokia has made it their mission to blatantly market its handsets’ imaging technology as better than those two specific devices.

Though Nokia has yet to put a price tag on its next-gen flagship, the Lumia 928 released just months ago costs just $99 (with mail-in rebate) for a two-year contract with Verizon. It’s not farfetched to think that the Lumia 1020 will be in the same price range.

The Nokia Lumia 1020 will be announced at the reveal event Thursday, July 11 in New York City but in the meantime let’s hear from you. What do you think about Nokia’s attempt at a smartphone with the ultimate camera? Will it be enough to give Nokia a stronger foothold in the smartphone market dominated by Apple and Samsung?