Nokia Lumia 1020 review, specs, update: Powered by Dual-core 1.5 GHz Krait processor and Qualcomm MSM8960 Snapdragon chipset, the Nokia Lumia 1020 runs on Microsoft Windows Phone 8, and sports 2 GB of RAM, 32 or 64 GB of internal memory, and a powerful 41 Megapixel camera.

With its fair specs and powerful camera to boot, it’s time for the Lumia 1020 to bite the dust in the market. One of Nokia’s former flagship smartphones is about to enter end-of-life status in September this year, according to reports. After Microsoft took over Nokia’s Devices division, the company’s 41-megapixel PureView camera sensor is about to end.

Meant as Windows Phone replacement for the PureView 808, Nokia launched the Lumia 1020 last July 2013 in the U.S. Then in September, the smartphone reached the U.K.

Previously, the Lumia 1020’s predecessors used Nokia’s own Symbian platform. However, the company made a bold move last year by turning to Microsoft's mobile operating system instead. When the two shared their features, the result was a 41-megapixel rear-facing camera with Carl Zeiss optics, optical image stabilization, auto/manual focus, and Xenon & LED flash. Because of a brilliant supersampling technique, the Lumia 1020 boasts of being able to shoot the best smartphone photographs in the market.

It is no news that Nokia has already stopped releasing updates for the PureView 808. However, reports are now saying that the Microsoft-owned division plans to do the same for the Lumia 1020. Insider @evleaks reported that Nokia will announce the smartphone’s end or possibly its phase out this September.

Rumors about the possible phase out of the Lumia 1020 would mean that it will no longer be manufactured. But no worries, stocks would be still available until every Lumia 1020 handset has been cleared off the rack.

The Lumia-makers have not announced any upcoming launch of a new flagship model with a powerful camera. For now, the Lumia 930 with its 20.7-megapixel camera is in the frontline of the competition.