The launch of the upcoming flagship from Nokia will mark another attempt from the company to return into to the smartphone market. Rumored to be a 5.5-inch touchscreen device with a 1440 x 2560 pixel resolution, the Nokia 8 has users abuzz about whether or not it will bring back Nokia to the top of the market.

A leaked photo of the Nokia 8 was tweeted by known technology blogger, editor and leaker Evan Blass last July, showing a design similar to that of the earlier Nokia 6, with its flat rear and rounded corners.

Measuring at 151.55 x 73.7 mm, the Nokia 8 is said to have a premium metal design and possibly IP68 water and dust protection. There are also rumors that the phone may come in two sizes, following the lead of other smartphone companies Apple, Huawei and Samsung. Recent leaks, however, have been focusing on only one design, so this speculation may prove false. Photos have also popped up on Baidu forums claiming a gold version of the Nokia 8.

Qualcomm Snapdragon 835 will probably power the Nokia 8, possibly backed by 4 GB random access memory (RAM) and 64 GB storage and a 3,999 mAh non-removable battery.

The Nokia 8's camera has been rumored to be either a 23-megapixel powerhouse or 13-megapixel dual lens. There is no information yet as to how the dual set-up will be. HDM Global and Zeiss have confirmed their partnership with Nokia, possibly bringing Zeiss technologies to the Nokia 8 or to future Nokia handsets.

The Nokia flagship is said to run Android 7.0. It's also a single-SIM smartphone with Wi-Fi, Bluetooth, global positioning system (GPS) and 4G connectivity capabilities. An anonymous tip also reportedly hints at a possible iris scanner on the phone.

Nokia used to be a leading cellphone manufacturer before falling behind when iPhone and Android phones began dominating the market. The company recently released a version of its classic Nokia 3310. 

Reports place the launch of the Nokia 8 on Aug. 16 in London with a price tag of $699.