The development of the Microsoft Surface Phone has been rumored since late last year, but the company has yet to officially unveil it. Despite this, rumors are starting to suggest that Microsoft will finally reveal their new phone since the Lumia lineup was discontinued and that they will launch it on Oct. 26.

According to a report from iTech Post, the phone is currently named "Panos." However, this may simply be a codename, and Microsoft will announce its final name when it is revealed later this month. This means it is unsure if the phone is going to be labeled as the Surface Phone or as something entirely different.

If the phone is indeed unveiled this Oct. 26, then the phone may roll out in early November. Fans speculate this will allow the phone to launch at a relatively good time given that the iPhone 7 will have already been in the market for a month, and the risk of direct competition between the two will be lower.

The phone is currently speculated to come in three different models. There is speculated to be a consumer model, an enthusiast model, and an enterprise variant. It is noted that the main differences between them may be their processors and screen sizes. This dovetails that their prices will vary as well.

As for specs, the phones are rumored to start with 4 GB RAM, and this will increase to 6 GB and 8 GB depending on the phone variant. They are all rumored to feature the new mobile variant of the Intel Kaby Lake processor, and this may be why the phone has been delayed.

However, given how Microsoft still has to launch the Redstone 2 update for Windows 10, and Intel will be launching higher end Kaby Lake processors next year, it is still possible that the Surface Phone will be pushed back to early 2017.