We’ve heard a lot about Microsoft’s flagship Lumia phones, the 950XL and 950, but the third Windows Phone released by Microsoft has taken somewhat of a back seat. The Lumia 550 is Microsoft’s answer to the budget-minded buyer, retailing at far less than the previously released flagships.

In a recent blog, Microsoft revealed that the Lumia 550 is now available in select markets around the world starting at $139. People in Europe will be the first that are able to get hold of the phone, and it will become available in other countries at a later date, Microsoft stated.

The 4.7-inch HD, 1,280×720 pixel display Lumia 550 will of course run Windows 10, come with Word, Excel, PowerPoint and feature Microsoft’s digital assistant Cortana. It will also come with OneDrive, Outlook Mail and Outlook Calendar, and Skype. It packs a 1.1 GHz quad-core Qualcomm processor and has 1 GB of memory along with 8 GB of storage that can be turned into 200 GB with a microSD card. At the back it has a 5 MP camera, and the front has a 2 MP camera.

The reason it’s much cheaper (Lumia 950 XL is $649, and Lumia 950 is $549) than the two flagships is mostly because of lower specs: a less powerful processor, less storage, and inferior battery, cameras and sensors. On top of that the Lumia 550 won’t feature Windows Hello, Microsoft’s face and fingerprint biometric sign-in capability, nor will it have Continuum, so unlike the flagships you won’t be able to connect it to Microsoft’s Display Dock and use it with a mouse and a keyboard.

The phone, however, available in glossy white and matte black, will include Microsoft’s Glance Screen, which shows the time, date, notifications and calendar entries without having to unlock the phone.

Photo credit: Microsoft