Nokia has recently launched their most affordable phone - the Nokia Lumia 620. It running on Windows Phone 8.
Here are the specs:
Display: 3.8” TFT WVGA 800×480, ClearBlack
Memory: 512MB RAM (8GB internal memory, Micro SD support up to 64GB). You also get 7GB of SkyDrive cloud storage free.
Camera: 5MP autofocus, LED flash; Video capture: HD 720p@30fps; VGA front camera
Size & weight: 115.4 x 61.1 x 11.02 mm; 127g (including battery)
Glonass, micro-USB, 3.5mm audio connector (AHJ + WP Controls)
Processor: 1 GHz Dual Core Snapdragon (TM) S4
Battery Talk time: (GSM/WCDMA) Up to 14.6 h/ up to 9.9 h;
Standby time: Up to 330 h
Visit the Nokia website for more info about the Lumia 620.