It seems Microsoft is content in continuing to push out midrange Lumia devices. Two more handsets, the Lumia 640 and the 640 XL are slated for release during the company's keynote tomorrow. Microsoft inadvertently leaked the information in their own Microsoft News Centre.
The Lumia 640 is supposedly a 5-inch device fitted with 1GB of RAM and 8GB of storage and will run on Qualcomm’s Snapdragon 400 processor. It should be running Windows 10 for smartphone.
We should expect an 8-megapixel rear camera and 1-megapixel Skype camera. The Lumia 640 XL is likely a larger variant. Earlier rumours suggested that Microsoft was going to launch around five new handsets as well as outline their plans for Windows 10 on smartphones. This may still happen as Nokia has always had a starring role at Mobile World Congress, so I'm hoping we'll get more exciting product announcements.
Source: Pocket-Lint.com, Microsoft