The Nokia Lumia 1020 Windows Phone comes with a 41-megapixel PureView camera, building on the technology first seen on last year's 808 PureView.
The Lumia 1020 has Carl Zeiss optics and a Xenon flash along with a 41-megapixel sensor.
The camera uses what's called oversampling to combine up to seven pixels into one "pure" pixel when taking typical sized shots (5-megapixels).
According to Nokia, this means it will eliminate the visual noise found on other mobile phone cameras while at the same time allowing you to zoom in up to 6x without losing any detail.
The Lumia 1020's camera also comes with a feature called "dual capture mode", which captures two pictures every time you take a photo.
A 34-megapixel or 38-megapixel full resolution image is stored for editing, while a 5-megapixel image is available for sharing. Each time you edit or crop your original photo, a new 5-megapixel image is saved to phone's camera roll.
The Lumia 1020's camera also includes optical image stabilisation and a xenon flash, the same used on dedicated point-and-shoot cameras.
The camera doubles as a full HD 1080p video recorder with 4x zoom, or 6x zoom if you opt to shoot at the slightly lesser 720p quality.
It's also the first Windows Phone to come with the company's "rich recording" feature, enabling audio levels of up to 140 dB.
The Lumia 1020 debuts a new camera app called "Pro Camera". It allows users to manually adjust settings like exposure level, white balance, shutter speed and ISO and features a new interface.
Users can immediately see the effect the settings will have on the image as they are being adjusted.
Nokia will sell two accessories for the Lumia 1020, a wireless charging plate that clips to the back of the phone, and a Camera Grip accessory.
The latter clips to the phone and comes with its own 1020mAh battery, a shutter button and a tripod mount. The company claims the Camera Grip will give users up to 55 minutes more shoot time.
The Lumia 1020 has 2GB of RAM and uses a 4.5in AMOLED screen, but all other internals are almost identical to the Lumia 920.
The phone runs a 1.5GHz dual-core Snapdragon S4 processor, ha a 1280 x 768 resolution display and has 32GB of internal memory. There's no microSD card slot.
The Lumia 1020 is both slimmer (10.4mm) and lighter (158g) than the Lumia 920.
The Nokia Lumia 1020 will be available in matte black, white, and yellow colour variants.
An Australian spokesperson said it is "too early to share details on availability for Australia" but the device is likely to launch Down Under in the coming months.