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Microsoft will announce its flagship Lumia 940 and Lumia 940 XL at an event in New York City on October 19, sources claim. The devices are expected to be accompanied by the Surface Pro 4 and Microsoft's next-generation Band 2.

"The latest, well sourced rumours suggest Microsoft will announce a slew of product, including their new flagship Lumia handsets, at an event in October," reports WMPowerUser. The date of that event is expected to be Monday, October 19.

Like previous Lumia handsets, the Lumia 940 and 940 XL are expected to sport slim polycarbonate designs with colorful finishes. The larger of the two will also carry a 5.7-inch Quad HD display, Qualcomm's latest Snapdragon 810 processor, 3GB of RAM, and 32GB of internal storage.

The device will also pack a microSD card slot, a 20-megapixel rear-facing camera, USB-C, and an iris scanner that will allow users to unlock the device with their eyes, according to the report.

The Lumia 940 is expected to be very similar, but it will have a smaller 5.2-inch screen, and a slightly slower Snapdragon 808 chip. Very little is known about the Surface Pro 4 or the Microsoft Band 2 at this stage.

The date of Microsoft's big event is "highly speculative," WMPowerUser adds, so take it with a pinch of salt until it is confirmed by Microsoft.