Nokia Lumia Icon Windows Phone powerhouse now $49.99 on contract from Verizon Wireless

The much-touted Nokia Lumia Icon smartphone has just received a significant price cut, as Verizon is now offering the device for just $49.99 on contract.

The Nokia Lumia Icon launched earlier this year as a Verizon exclusive, boasting high-end specs and features and running Microsoft's Windows Phone 8 mobile operating system. The smartphone quickly garnered lots of positive reviews and stirred such interest that Nokia even launched a global version called the Lumia 930. Due to its exclusivity deal with Verizon, however, Nokia has no plans on officially selling the Lumia 930 in the U.S.

Nevertheless, if you've had your eyes set on the Nokia Lumia Icon and Big Red is your carrier of choice, you can now get the smartphone for a reduced price tag of $49.99 when agreeing to sign a two-year service agreement with Verizon.

In terms of specifications, the Nokia Lumia Icon sports a 5-inch Full HD OLED display with a resolution of 1920 x 1080 pixels and packs a quad-core Qualcomm Snapdragon 800 processor under the hood, clocked at 2.2GHz and paired with 2GB of RAM. Other specs include 32GB of internal storage capacity, a high-end 20-megapixel rear camera with PureView technology, a 1.2-megapixel front shooter, and a 2,420 mAh battery.

"With the Nokia Lumia Icon, see and hear what you've been missing. Get the ultimate smartphone video experience with gorgeous HD video and awesome stereo sound. A 20-megapixel camera and single-finger zoom make it easy to get close to the action. Experience great performance with this Windows Phone 8 smartphone," touts the product description on Verizon's website.

The main difference between the Verizon-bound Nokia Lumia Icon and the global Lumia 930, however, lies on the software front. While the Lumia Icon made its debut earlier this year with the Windows Phone 8 OS on board, the Lumia Icon launched in April boasting Microsoft's latest Windows Phone 8.1. This gives the Lumia 930 an advantage over the Verizon-exclusive model, but the Lumia Icon should get the Windows Phone 8.1 update soon enough. Microsoft has yet to announce an exact rollout date for its latest OS, but the Lumia Icon should be at the top of the list as soon as Windows Phone 8.1 is ready to hit existing Windows Phone devices.

Verizon doesn't mention whether this price cut is part of a limited-time promotion set to expire soon, but the Nokia Lumia Icon is now available for just $49.99 on contract.

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