Fans of the Android platform have long had access to more affordable handsets that are ideal for those on more of a budget, but many of these are still packed with some great specifications for the price. Nokia is currently pushing its presence on the new Windows Phone 8 platform that it hopes will allow it to regain some market share it has lost in recent times, and we now have news of the colourful Nokia Lumia 620 WP8 budget priced handset.

The Finnish company has just announced its third Lumia Windows Phone 8 handset that will line up below the Lumia 920 and Lumia 820, and the new Lumia 620 is set to be released early next year. The handset continues the trend of previous Lumia offerings in colourful designs from seven removable rear panels, and according to Nokia the manufacturing process allows for more brightness along with a little texture.

So the handset will offer consumers a 3.8-inch display with a resolution of 400 x 800 that is powered by a dual core Snapdragon S4 Plus processor clocked at 1GHz, which is coupled with 512MB of RAM. What will please many potential customers is that the 8GB of built in storage can be expanded further via a microSD card up to 64GB, and owners will also get 7GB of SkyDrive cloud storage space as well.

Camera wise the handset has a five megapixel rear shooter with LED flash along with a front facing VGA unit, and Nokia has added Smart Shoot and Cinemagraph features with the latter allowing users to animate still photos. You also will get the Nokia Music, Nokia Drive, and Nokia Music pre-installed to the device.

Other features include 720 video capture, Bluetooth 3.0, NFC connectivity, and this is all powered by a 1,300 mAh battery. The handset will be released first in Asia before quickly arriving in Europe and the Middle East and will cost around $249 SIM free.

While no US release has been mentioned yet a cheaper WP8 handset is needed now especially as the HTC 8S is not arriving, so Nokia could be onto a winner if they get the handset out to US consumers in the coming months.

Do you like the look of the Nokia Lumia 620?