Lumia 530 Windows Phone 8.1 smartphone officially debuts as ‘most affordable Lumia yet’ (VIDEO)

Microsoft Devices has officially announced its new Nokia Lumia 530, an entry-level smartphone running Windows Phone 8.1, launching as "the most affordable Lumia yet."

The new Nokia Lumia 530 will launch in both single-SIM and dual-SIM variants and will cost €85 before taxes and subsidies. The smartphone will become available globally soon, rolling out in select markets in August.

"We are moving quickly to help more people experience the uncompromised Lumia technologies, third party apps, and Microsoft services that we deliver to our flagship products," Jo Harlow, Corporate Vice President of Microsoft Devices Group, touts in a new blog post on Wednesday, July 23. "Lumia 530 underscores our commitment to making affordable smartphones for everyone, and introducing more people to the best of Microsoft."

In terms of specifications, the entry-level Nokia Lumia 530 comes with a FWVGA LCD display with a resolution of 480 x 854 pixels, a quad-core Qualcomm Snapdragon processor clocked at 1.2GHz, 512MB of RAM, and 4GB of internal storage capacity, with microSD card support for additional memory of up to 128GB. Other specs include a 5-megapixel fixed-focus camera with no LED flash, but the handset doesn't feature a front shooter. A dedicated hardware key for the camera is also missing from this picture. A 1,430 mAh battery will keep things up and running, while Microsoft's latest Windows Phone 8.1 will rock the software side. Connectivity options include Wi-Fi, 3G, Bluetooth 4.0, FM Radio, and A-GPS.

The Nokia Lumia 530 also comes pre-loaded with Microsoft Office apps, and the company is also throwing in 15GB of free cloud storage space via OneDrive. Compared to the Lumia 525, however, the new Lumia 530 may come as a disappointment to some. The Lumia 525 features 1GB of RAM instead of just 512MB, has 8GB of internal storage capacity, and has a dedicated hardware key for the camera.

Nevertheless, the Nokia Lumia 530 should find plenty of takers considering its low price tag, especially since it's running the very latest Windows Phone 8.1 out of the box. The smartphone comes in bright orange, bright green, white, and dark grey color options, with interchangeable shells. You can find the product page at this link, or check out the video below to learn more about the most affordable Lumia yet.

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