Nokia is reportedly gearing up to release a 6-inch phablet codenamed "Bandit," which would sport higher-end specs than any of the company's current devices.

The Windows Phone 8 platform does not yet enjoy the same popularity as Android and iOS. Microsoft's software doesn't support the hardware specs that Android and iOS do, at least not yet. Nokia plans to change all that with a brand new phablet with a top-end processor and a full HD display.

This is not the first time that rumors of a Nokia phablet emerge, but now The Verge claims to have learned from trusted sources that the company is working on a big-screen handset.

"Nokia is planning a big-screen Windows Phone for release later this year. Sources familiar with Nokia's plans revealed to The Verge that the company is currently testing a 6-inch device with the latest version of Windows Phone," reports the publication.

"Codenamed 'Bandit,' the handset includes a 1080p display and a Qualcomm Snapdragon quad-core processor. We understand that Bandit will be the first of many planned 1080p Windows Phone devices."

The Nokia Lumia 625 sports the biggest display found so far on a Nokia Windows Phone 8 (WP8) handset, measuring 4.7 inches. The platform supports only 720p HD displays for now, but the GDR3 update expected later this year will reportedly add support for more powerful, quad-core processors and Full HHD displays.

With the purported Nokia Bandit launching as the first 1080p handset running on Windows Phone 8, Nokia will likely be able to attract more customers to its platform and better compete against Android and iOS.

The impending Nokia Bandit phablet is also expected to boast a high-end camera with a sensor of at least 20 megapixels. The camera's form factor on the back of the device will reportedly resemble that of the Lumia 925, but the handset would otherwise be thin and light. The smartphone will likely be made of polycarbonate material and be available in the vivid color options Nokia users have grown fond of.

Nokia has not officially confirmed its Bandit phablet yet, but all signs point to a level-up for the Finnish company. Competition in the smartphone market is getting increasingly fierce and Nokia needs something big to keep up with rivals. The upcoming Bandit may be it.