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The Finnish OEM, Nokia, is attempting a comeback in the phone manufacturing industry by introducing a new flagship phone being called the Nokia C1.

Christian Post has posted reports of various rumours and leaks that the upcoming Nokia flagship handset will run on either an Android or Windows 10 Mobile operating system. The choice of firmware will be left to potential buyers.

Images of the phone have been leaked online, showing design mockups of the C1 displaying the Android-based Z Launcher on one phone's display and the Windows 10 mobile on another. If interpreted, this could mean that the Nokia C1 will give users the option to either run on Google's or Microsoft's rendition of a mobile OS.

Know Your Mobile further adds that the new Nokia flagship sports a very iPhone-like enclosure design in terms of shape, screen and camera positioning. If this is to be its final design then this could potentially raise more eyebrows.

The Nokia C1 will be coming in two size variants, either with a 5.0 or 5.5 inch display, and will come in full HD. The first version will get 2GB of RAM and 32GB of storage, while the other will receive 3GB with 64GB of storage, says GSM Arena. The camera is yet to be finalised, but it will either sport a 8 megapixel back with a 5 megapixel front camera or 13 megapixel back with a 5 megapixels for the front camera.

Further, anonymous sources have shared that this handset by Nokia has long been in designing phase and could be seeing the light of day as a prototype very soon. However, the phone's launch will most likely not happen until about fourth quarter of 2016.

After Windows decided to make Lumias on their own, Nokia has been cooking up ways to keep the company in the game, and the Nokia C1 could very well be their make or break move. The outcome of this phone could determine the whole company's fate.