Microsoft's Lumia 940 is reportedly not expected to make its way to the market until at least 2016 at the earliest.

With excitement building around the impending release of the Windows 10 operating system (OS) and many within the tech industry expecting Microsoft to take advantage of that hype as much as they can, it appears they will be bypassing the smartphone market at least for now.

The impending release of the new operating system may even be the primary reason why Microsoft is more likely to release the Lumia 940 next year, as the company is said to be more focused on making sure their new OS is running well, according to Latin Post.

Despite the apparent delay, Microsoft is still expected to follow through with their plans to outfit the Lumia 940 with one of the most powerful cameras ever found on a smartphone. Many still expect the Lumia 940 to feature a 20-megapixel rear camera along with a 5-megapixel one found at the front. Outfitting the Lumia 940 with high end cameras is being viewed as Microsoft's way to take advantage of Nokia's reputation as being one of the leaders in developing cameras for mobile devices.

As for the other specs of the phone, it is expected to have a 5.2-inch Quad HD display along with a 64 bit Qualcomm Snapdragon 808 processor. It is also rumored to have 3GB of RAM as well as 32GB of space for storage.

The Lumia 940 will also reportedly be equipped with some unique features. According to iDigital Times, is expected to have both an iris scanner as well as a continuum feature that would enable the device to run the new Windows 10 OS similarly to how a PC would do so.

An exact price for the Lumia 940 has not been pinpointed but it is expected to cost more than $736, which was the price of its predecessor.