Nokia launches cheaper Windows Lumia smartphone

Nokia is launching a cheaper model in its Lumia smartphone range, powered by Microsoft's Windows phone software, as it tries to regain dominance in emerging markets like China.

The Finnish cellphone maker, which until recently was the world's largest maker of phones, says the new Lumia 520 will start at (euro) 139, or about $183, before phone-company subsidies. By contrast, Apple's two-year-old iPhone 4 costs $450 before subsidies.

Nokia says it will start selling the phone soon in Asia, Europe, Latin America and Africa. It also says T-Mobile USA will sell it, but did not say when.

At an event in Barcelona on Monday, Nokia CEO Stephen Elop says the company believes the phone "delivers the best performance of any smartphone at this price point".

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