The Microsoft Surface Phone is one of the highly anticipated devices rumored to be released this year. Since the flagship smartphone didn't make it to the Mobile World Congress last week, new reports now point to an October launch.

Since Microsoft stopped selling Lumia phones in 2016, fans have been expecting to see the tech giant make a comeback in the smartphone industry with a flagship device that could rival its state-of-the-art competitors. The lack of a new Lumia clearly means that there is a void in Microsoft's tech lineup, and this gives them a chance to unveil something big in the future. Considering the company's overwhelming success with its Surface line of products, it is speculated that there are plans to name the next flagship phone as the Microsoft Surface Phone.

According to reports, the Surface Phone will be a phablet with a screen resembling the Lumia XL's display. The company is believed to be developing three variants, with two of them specifically created to cater to professionals and entrepreneurs. The phone will likely sport a 5.5 to 6-inch HD display with a resolution of 1,440 x 2,560 pixels. The device will either be powered by an Intel Kaby Lake or Snapdragon 835 processor, similar to the new flagship devices from other brands.

Other features of the phone include an AMOLED display, USB port and a liquid cooling system — a clever technology first introduced in Samsung's Galaxy S7 last year. The Surface Phone is expected to have a 21-MP rear snapper, along with an 8-MP front camera. Rumor has it that the phone would also be able to run both iOS and Android apps through Windows 10.

Microsoft has yet to officially confirm if a Surface Phone is being developed. While details about the smartphone is still being kept under wraps, the company's execs are confident that they will eventually come up with "the most ultimate mobile device" in the near future.