Microsoft Devices today its most affordable Lumia smartphone, Lumia 530, in the country for Rs 7,349.
The dual SIM device will be available in stores starting tomorrow.
"The affordable smartphone segment is growing exponentially, driven primarily by youth who are constantly looking out for smartphones with power packed features at affordable prices," Nokia India Director Marketing Viral Oza said. Nokia India is a subsidiary of Microsoft Mobiles Oy.
Lumia 530 builds on the legacy and success of Lumia 520 and will help Microsoft Devices consolidate its position in this segment further, he added.
Previously, the Lumia 520 was the cheapest smartphone in the company's Lumia portfolio. The device is currently retailing at about Rs 8,000.
Microsoft Devices also sells affordable smartphones under the Asha range, which was part of Finnish firm Nokia's handset business. The software giant acquired Nokia's handset business earlier this year.
The Lumia 530 is powered by Microsoft's latest Windows 8.1 operating system and 1.2 GHz quadcore processor. The four-inch device features 5MP rear camera, 4GB on-board memory (expandable up to 128GB) and an additional 15GB of free cloud storage on Microsoft OneDrive.
"With its innovative design, the latest Windows Phone 8.1 and signature Lumia experiences, the Lumia 530 3G dual SIM is the perfect device for those who are looking for a distinctive smartphone," Oza said.
The company has partnered Airtel to offer prepaid subscribers 500 MB of 3G Internet usage free for two months.