PICS: Nokia unveils first phablet Lumia 2520

Nokia will also make a cheaper version, the Lumia 1320, for a contract-free price of $339. It will have a 5-megapixel camera and a slower processor than the 1520. Both run the latest version of Windows Phone 8, which has new features to accommodate larger screen sizes. Nokia's first tablet will be the Lumia 2520. It will run Windows 8.1 RT, meaning it shares the tile-based interface of the phone software, but can run various apps designed for Windows tablets. However, RT is the lightweight version of Windows, so it will run only apps specifically designed for it. Regular versions of Windows 8.1 can run apps for older versions of Windows.