Last year, Nokia released the first handsets in its Lumia line, running Microsoft's Windows Phone mobile operating system.
The next generation of the OS, Windows Phone 8, will be released later this year and various manufacturers have already confirmed plans to offer handsets, including Huawei and HTC.
Nokia has so far been quiet on its plans, but Bloomberg cites unnamed sources as saying that its new Windows Phone 8 range will arrive at the Nokia World event on September 5 and 6 in Helsinki, Finland.
The insiders say that Nokia wants to unveil the phones before Apple's expected announcement of the new iPhone on September 12, and then start sales before the Christmas rush.
According to the latest data, Nokia was the third-biggest player in the worldwide smartphone market over the three months to June 30, with a 10.2% share putting it ahead of HTC's 8.8% and ZTE's 5.2%.
However, the once-dominant Nokia lags far behind Samsung and Apple, who lead the global market with a 50.2% and 26% share respectively.
In the key US market, Nokia sold 600,000 handsets last quarter, while Apple sold 5.9 million iPhones, according to Strategy Analytics. The Finnish firm had 32% of sales in North America in 2001, but that has now fallen to just 2%.
Nokia agreed a deal last year with Microsoft to use Windows Phone, giving it a growing mobile OS backed by a major technology player.
But analysts feel that Nokia must work to improve the consumer awareness of its Lumia smartphone brand to really see a turnaround.
To help regain its cool, Nokia has put together its own 'Nokia Army' - a massive team of US-based employees who will work alongside the salespeople at carriers and retails outlets to help educate customers on the Lumia offering.
Nokia's smartphone chief Jo Harlow confirmed that the firm must build brand awareness if it is to compete with the Apple iPhone and Android devices.
"The challenges are really around how fast can we build that awareness," Harlow said in New York last week.
"I don't want to characterise the retail sales associates as if it's an insurmountable challenge, because it's not, it's just work, day-to-day work to ensure they have all the information they need, that they have used the device, that they are able to tell the whole story."