Earlier this week, the buzz about a new Nokia smartphone called Nokia C1 made the rounds online, igniting speculations that the Finnish company will be releasing a new mobile device after their phone manufacturing arm was acquired by Microsoft in mid-2014. But recent updates reveal that the Nokia C1 is nothing but a concept phone made by fans of the brand. 

Based on the news reports that circulated on Monday, Nokia is prepping to develop a new Android smartphone even if they are barred from making another mobile phone product until 2016. A blurry photograph of the so-called Nokia C1 smartphone was posted by a Chinese website called TechWeb. It also includes the supposed specs of the device. 

The website claims that Nokia's new smartphone device will be released with a 5-inch touchscreen display, an Intel chip, 2 GB of RAM with 32 GB internal storage, an 8-megapixel primary rear shooter, as well as a 5-megapixel front-facing shooter. The report also mentioned that the rumored Nokia C1 will run using the latest Android 5.0 Lollipop operating system straight out of the box, and it will have the brand's signature Z launcher pre-installed in each unit. 

However, there is no truth about the so-called Nokia smartphone device. It was just a fan-made concept that was inspired by the soon-to-be released Nokia N1 tablet. 

Meanwhile, the upcoming Nokia N1 tablet is not actually manufactured by the Finnish brand; it is being made by Foxconn. Nokia only developed the product, which will reportedly compete with other tablet brands like Apple's iPad and Microsoft's Surface tablets. 

The Nokia N1, which will come with a 7.9-inch screen featuring a 1536 × 2048 pixel resolution, a quad-core Intel Atom processor clocked at 2.3 GHz, 2 GB RAM, as well as a 5-megapixel front camera with an 8-megapixel rear-facing camera, will reportedly be released on Jan. 7, 2015.