Nokia has just come out and announced that it will be releasing the Lumia 620. This device will be the most affordable Windows Phone 8 priced at an appealing $250 without a contract. For $50 more, better options are available to you, making the Lumia 620 Nokia’s Budget Windows Phone 8 phone.

The Lumia 620 comes with specifications like you would expect on a budget phone. It comes with a 3.8 inch display toting an 800-by-480 pixel resolution. It is powered by a 1GHz Qualcomm Snapdragon dual core processor with 512MB of RAM and 8GB of storage. The storage of this device is upgradeable to 64GB if you buy a MicroSD card. The Lumia 620 also comes with 7GB free Microsoft SkyDrive Storage.

The front facing camera on the Lumia 620 comes with a standard sensor while the back comes with a 5 megapixel camera with flash. The Lumia 620 and the high end Lumia 920 will share the same lenses.

Nokia’s Lumia 620 comes in a large array of colors. These include: orange, yellow, lime green, magenta, cyan, black, and of course white. With its new Lumia 620 line, Nokia used a technique called dual shot color which adds another layer of colored polycarbonate on the base layer to produce a look of depth. You will really need to see this phone in person to notice this detail.

The Lumia 620 by Nokia will cost about $250 dollars. The phone will come unlocked and without a contract. In early January 2013, the phone is said to begin selling in Asia which will be followed by the Middle East and then Europe. Sorry Americans, it’s going to be awhile before you can get your hand on one of these.

While you may be getting excited to pick up one of these new phones by Nokia, you should stop for a moment. The Lumia 620 is by far the cheapest Windows Phone 8 but it is only priced $50 dollars below the Google Nexus 4. If you can manage to save up an extra $50 dollars, you will get a much better device with a 4.7 in screen, 8MP camera, 2GB RAM and a quad core processor instead of two.