Microsoft Drops Nokia Name With Newest Lumia Smartphone

Microsoft has unveiled a cheaper smartphone, costing about 135 dollars, as it eyes emerging and other low-cost markets for growth. The new model is 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. The Lumia 535 is expected to go on sale this month. Microsoft didn't announce any U.S. plans.