Well, that came out of nowhere. Microsoft announced a new Lumia handset today. The Lumia 540 Dual SIM is the successor to the entry-level Lumia 535 Dual SIM handset. The new Lumia 540 comes with an affordable price tag of just $149. It does boast decent specs for its price.

Lumia 540 Dual SIM specs:

5-inch HD (1280x720) display

1.2GHz quad-core Snapdragon 200 chipset

1GB RAM

8MP rear and 5MP front cameras

16GB internal storage, microSD card slot

2200mAh battery

Windows Phone 8.1 with Lumia Denim

The Lumia 540 Dual SIM will be available in cyan, orange, white and black colors starting from May 2015.