The black handset measured 195 x 60 x 45mm and featured a monochrome LCD display and an extendable antenna. The memory could hold 99 phone numbers. It did not yet employ Nokia's characteristic ringtone: that was only introduced in 1994. The phone operated in the 900 MHz band; existing units still function on GSM 900 networks. At that time the device cost about 2500 DM (€1278.22, not accounting for inflation).

The phone was able to send and receive SMS messages, even if Nokia says that its model 2110 phone was the first SMS-enabled GSM phone.

The Nokia 1011 continued production until 1994, when the Nokia 2110 was introduced as a successor.