One of the upcoming Nokia Phones this 2014 has been unveiled and that is the Nokia Lumia 530, which is also touted as the successor of Nokia 520. While its specs and features, obviously can't compete with the mid-range and flagship phones today, our main question is: "What should we expect from a 135-dollar phone?"

Jo Harlow, Corporate Vice President of Microsoft Devices Group remaked: "Lumia 530 underscores our commitment to making affordable smartphones for everyone, and introducing more people to the best of Microsoft."

The phone sports a 4-inch LCD display rendering 854 x 480 resolution with a density of 246 ppi. As the successor of Nokia Lumia 520, this model jumps from a dual-core processor to a 1.2 GHz quad-core Snapdragon 200 chip with 512 MB of RAM.

Internal storage has been trimmed down to 4GB but the good news is this phone already has a microSD slot which supports cards up to 128 GB in size. It has 1430 mAh removable battery that can last 10 hours of talk time.

One of its cutting-edge features is the availability of Windows Phone 8.1 OS with Lumia Cyan. Now users can make the most out of the Windows Action Center, Word Flow, customized Start screen backgrounds, and Siri's rival Cortana, at a lower price.

For selfie addicts, there might be a downside as the phone carries a mere 5 MP main rear camera.

Lumia comes in single or dual sim models, and you can choose from its fancy hues: bright orange, bright green, dark grey, and white.

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.

We'll be posting more upcoming Nokia devices this 2014. For now, what do you think of the Lumia 530? Is it fairly priced?