We checked with our sources in light of some latest tidbits and it seems there may be not one but two variants of Lumia 720’s upcoming successor. Though, both will come with 720p resolution screens, but one will have a 4.7 inch display, while other will come with a 5-inch display.

The one with 4.7 inch, 720p display will be the Selfie phone and may pack a big 5 MP FFC for Selfies. It may have a 8 MP rear cam. It may be first launched at Verizon during August and later may come to other carriers and markets.

The other with 5-inch, 720p display will be one with an advanced rear camera module with up to 13 MP camera sensor. It may be the same device that had been leaked in China sometime back. It may be marketed as the Lumia 930 mini.

Our sources tell us that the 5-inch, Lumia 720 successor which goes by product codes RM-983, RM-984 and RM-985 may well be on its way to an end of August ( 3rd – 4th week ) announcement. The device will come to AT&T and will be released globally in due course. It will run Windows Phone 8.1 GDR1 out of box.

We have reported about a new Lumia Lineup coming to market during August-September and it has begun with Lumia 530 announcement already.

Have a look at some of its probable specs and features (  Though these may change, note the probable )

Probable specs and Features:

4.7 inch / 5-inch, 720p resolution display

Quad-core Snapdragon 400 processor

Adreno 305 GPU

8 /  13 MP rear camera

May have a “big selfie cam” in front

Windows Phone 8.1 GDR1

May sport a slightly altered design from Lumia 720