Microsoft leaves Nokia behind with latest Lumia phone; Cheaper price meant to grow sales

Industries Associated Press

Microsoft has unveiled a cheaper smartphone, costing about 110 euros ($135), as it eyes emerging and other low-cost markets for growth.

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The new model will be the first Lumia smartphone under Microsoft's own brand name. The company has released a few Lumia models since it bought Nokia's phone business this year, but those models still carried the Nokia brand.

The Lumia 535 Windows smartphone will have a 5-inch screen, as measured diagonally. It comes with 5-megapixel front and rear cameras, which should snap sharper selfies than typical smartphones.

Microsoft is trying to expand its small market share worldwide with cheaper devices.

The Lumia 535 is expected to go on sale this month. Microsoft didn't announce any U.S. plans.