It seems that Microsoft is now planning to release the successor of Nokia Lumia 520 and 525 units. Leaked photos of the Nokia 530 is now starting to spread online and we can see that this is going to be a budget yet colorful and stylish smartphone.

The images suggest that the device will have virtual on-screen keys instead of physical navigation buttons. Shall the leaked photos remain true, the Lumia 530 is expected to sport a 4.4" display while some of the assumptions regarding its hardware include a Qualcomm Snapdragon 200 chipset with 512MB of RAM. This feature for an entry level smartphone according to IB Times is already good enough to let users perform various mobile tasks with ease.

It will most likely run on Windows Phone 8.1 OS as well and lastly, the new handset will have dual sim slots as per VR Zone.

Rumors say that the unit will be priced at $179.

Will this handset beat the sales record set by Nokia Lumia 520? According to recent reports, 520 has registered over 12 million activations as of writing. Late last year the phone took 30% of all Windows Phone devices.

What do you think of Nokia 520's successor? Sound off in the comments section below!