The price of the device will be disclosed on October 10 but as per estimates, it will be available in the range of Rs 47,000-Rs 48,000. It is currently selling in other markets for $800. The price range is well under Apple Inc's premium iPhone 5S, and nearer the plastic-based iPhone 5C.
"We have received extremely encouraging response for our Lumia range and believe that Nokia Lumia 1020 will further strengthen our leadership in imaging, which plays a important role in the lives of consumers today," Nokia India Managing Director P Balaji told reporters here.
The dual-capture feature of Nokia Lumia 1020 allows to take a high resolution 38 megapixel image and also creates a 5 megapixel picture that can be shared on social networking sites.
Nokia Lumia 1020 has an application called Nokia Pro Camera, which makes it easy for anybody to take professional quality images.
The application allows users to click pictures first and then zoom later to get their desired shot.
"Nokia Lumia 1020 is our premium smartphone and our target market is people who value great imaging experience. There are 50 per cent people who click pictures with their smartphones and a fraction of those are camera lovers, who are our target audience for this phone," Nokia India, Middle East and Africa Director (smartphone devices) Vipul Mehrotra said.
He said when it comes to volumes, there is this pyramid structure. Lumia 520 will be the lower end of the pyramid and 1020 will be the top end.
Mehrotra said Lumia 520 has received an amazing response from the people and it is one of the largest selling devices on the e-commerce sites.
"Lumia 520 is a favourite with the younger audience, its a high end smartphone at a very affordable price," he added.
The company now has 13 devices in the Lumia portfolio in India.
Nokia Lumia 1020 runs on Windows 8 and has 32 GB on board storage. The company has also tied up with Vodafone wherein the customers will get free 2GB of 3G data usage for two months. Customers will also get an application voucher worth Rs 1,000 with the phone.