One more image of Lumia 1520V leaks in China and what now adds some authenticity to the rumors of this device, is the fact this device now gets leaked by another source and both leaks support each other. This new image comes via MiLeaks.
So, it becomes clear from above image (that compares it to what looks like an iPhone), the device may have an earlier rumored 4.45 inch screen. One can also notice 3 mid-sized tiles on home-screen unavailable on current crop of devices with similar screens size, so that may be a Windows Phone 81. thing.
Here are the probable spec from earlier leaks,
It is named Lumia 1520 Viisi aka Lumia 1520V
WXGA (1280*768) resolution
Screen size of 4.45 inches
Will come with 3 mid-size tiles
2GB of RAM,
32 Gig storage without expandable memory,
14 MP camera
Thanks Xio-Feng for the tip. Cheers!!