Microsoft Devices has unveiled a new Nokia Lumia smartphone that is the cheapest Lumia so far, coming in at €100.
The Nokia Lumia 530, a Windows Phone 8.1 device, should build on the success of last year's Lumia 520 which was one of the most popular Windows Phone 8.1 handsets.
It's got a 5MP camera, with a 1,430mAh battery which claims to give up to 10 hours of talk time and 22 days worth of standby.
The 530 also has a 4-inch 854x480 LCD touchscreen, a 1/2GHz processor and 4GB of internal storage.
Jo Harlow, Corporate Vice President of Microsoft Devices Group, said: "We are moving quickly to help more people experience the uncompromised Lumia technologies, third party apps, and Microsoft services that we deliver on our flagship products.
"Lumia 530 underscores our commitment to making affordable smartphones for everyone, and introducing more people to the best of Microsoft."
Microsoft revealed that it has lost almost $700m from the Nokia acquistion this year. Its quarterly revenue, however, rose 17% to $23.38bn, just beating analyst expectations of $23bn.
The firm managed to sell 5.8 million Nokia Lumia phone from April to June 30, compared to the 35.2 million iPhone sales from Apple.
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