Nokia has surprised the world by announcing their most affordable Windows Phone yet: the Lumia 510.

The device is the polar-opposite of the Lumia 920 when it comes to specs, and falls closer in line to the Lumia 610 and other Tango-based phones. Of course, the biggest difference between this phone and their new higher-end Lumias is the fact that the 510 will run Windows Phone 7.5 at launch (and later, the 7.8 update). That means the phone will not be upgradable to Windows Phone 8.

The Lumia 510 includes a 4-inch WVGA (800x480) TFT screen, a Snapdragon S1 processor, 256 MB of RAM, a 5-megapixel autofocus camera, and just 4 GB of internal storage (no memory card slot here). Colors are always a cornerstone in Nokia's Lumia lineup, and the 510 will be offered in five flavors: black, cyan, red, white, and yellow.

Nokia says the phone will be available in India, China, South America and Asia in November for a super affordable $199 USD without a contract. Check out the overview video after the break for more.

Source: Nokia, Nokia Conversations