We already talked about it here. The rumour was it will be called Xperia Duo.
Now few things changed from then.
It will be driven by snapdragon 1.5GHz(MSM8660) dual core processor, with help of 1GB RAM, although as you may notice, images shows only 691MB. It's jet to be seen how many MB of RAM will it have. It also has a 4.3" screen with amazing resolution of 720 by 1280, which gives 320dpi. You will have 32GB of storage for keeping your data, unfortunately without memory card option.
And all that will be powered with 1750mAh battery.
More rumours also suggest that this will be first Sony Ericsson phone to be used with micro-SIM and will have NFC. Of course, the exception being the Sony Ericsson Xperia Arco, which is released only in Japan and is their only model with an NFC chip.
All this specifications are maybe the reason they called it Nozomi, which is also used for fastest train service in Japan.
Here are few pictures of the phone itself:
Also on next picture you can see NenaMark1 results for Nozomi:
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