In a statement issued earlier today, the Finnish phone maker announced plans to introduce the Lumia 510 smartphone to India and China in November. Expansion into other parts of Asia and South America is expected in the months following.
Based on Microsoft's (NASDAQ:MSFT) Windows Phone operating system, Nokia expects the 510 to sell for around $199 U.S. excluding taxes and subsidies. Qualcomm's (NASDAQ:QCOM) popular Snapdragon chipset will power the new Lumia.
"People who use Windows Phone quickly realize how much more intuitive it is than other smartphone platforms, and Nokia Lumia is the best embodiment of the Windows Phone experience. With the Nokia Lumia 510 we're looking forward to welcoming more people into the Windows Phone experience," said Jo Harlow, executive vice president of Nokia Smart Devices, in the press release.
Nokia's recent earnings report revealed disappointing sales of existing Lumia models as some users chose to wait for handsets based on the Windows Phone 8 OS. The Lumia 510 is based on version 7.5.
Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team and the Motley Fool Supernova Odyssey I mission. He owned shares of Apple at the time of publication. Check out Tim's web home, portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.
The Motley Fool owns shares of Apple, QUALCOMM, and Microsoft. Motley Fool newsletter services have recommended buying shares of Apple. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. Motley Fool newsletter services have recommended creating a synthetic covered call position in Microsoft. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.