The Nokia “Moneypenny” will be called the Lumia 630 or 635 depending on its configuration, according to Evleaks, who continues to spill the beans on Nokia’s upcoming devices.

Nokia Lumia 520 Family 2 1024x1024 Nokia Moneypenny is the Lumia 630/635, first dual SIM Windows Phone handset

Judging by the model number, the Nokia Moneypenny should replace the Lumia 620 as the company’s mid-range handset; it will be the first Windows Phone device to have dual SIM slots – the Lumia 630 should be the single SIM variant while the 635 would be the dual SIM model. A dual SIM Lumia 720 was also expected to be released, but so far that hasn’t materialized – not surprising, considering the unibody design of the Lumia 720 would have made fitting in another SIM slot a not-so-easy task.

The Nokia Moneypenny will also be one of the first Windows Phone handsets to run on Windows Phone 8.1 “Blue” out of the box. The point update of the OS is expected to add numerous new features, like a notification center, better multitasking, Siri and Google Now-like personal assistant, a control center for quick settings access, and more. Another WP 8.1 handset is reportedly on the cards as well, codenamed “Goldfinger,” and will likely launch around the same time as the Moneypenny with high-end specs befitting a flagship, but only with a single SIM slot.

However, despite mid-range specs, the Moneypenny will be the more important device upon launch. The dual SIM functionality should help Windows Phone grow further in emerging markets where dual SIM phones sell like hot cakes, and the right price should give the Android competition something to worry about, especially if Nokia manages to keep the same quality vs. price ratio that we’ve seen on its existing handsets.