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Don't expect any Lumia flagship smartphones till September of next year (rumor)

Nokia Lumia  is probably the best thing that happened to Microsoft's mobile operating system - Windows Phone , the once proud company was responsible for about 2/3 of the platform's marketshare thanks to some good budget handsets like the Lumia 520 and the Lumia 630 which were best sellers thanks to the quality Nokia construction and the fluidity of the operating system . The flagship Nokia devices however were (and still are) mostly left gathering dust as high end smartphone buyers prefer phones running Android  or iOS. To combat this problem , Lumia - Nokia's new Brandname name under Microsoft , is said to be working on budget handsets and they will skip on Flagships till September (of next year) . Projects like the Lumia 1020 successor - the Lumia 1030 McLaren are said to be scrapped in favor of launching affordable handsets like the Lumia 435 which
Certification pictureof the Lumia 435 
is rumored to pack a dual core Snapdragon 200 chipset , a 4" display of , a 5mp rear camera and a super cheap price for markets like India  .The Lumia 435 along with a new replacement for the Lumia 625 will be launched at MWC next year (March 2015) The handset and Microsoft's new strategy to keep low end sales in order to prevent Windows Phone from becoming another flop might be a sign that the glory days of high end Windows Phones may be over , but then again  Microsoft also has its Windows 10 card remaining , and if they play it well , the Lumia brand and all the sub brands from other manufacturers  that didn't jump ship(cough cough ...Huawei)  might get a comfortable ride to become a viable third option in the Mobile ecosystem game .

Source - GSMArena

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