This is the first Microsoft-branded Lumia smartphone

Microsoft yesterday unveiled the first Lumia smartphone to not bare the Nokia name: the Microsoft Lumia 535. The Lumia 535 is Microsoft's newest budget handset, featuring a 1.2GHz quad-core processor, 1GB of RAM, 8GB of expandable storage, a 960×540 pixel 5-inch screen and a USD$130 price-tag. Unlike the Lumia 530, the Lumia 535 also has a front-facing camera. 

Aside from a change in brand, the Lumia 535 retains the trademark design of Microsoft's smartphone range, and retains Nokia's naming conventions. While the Lumia 535 boasts the Microsoft-moniker, all prior Lumia devices will retain the Nokia name. 

An Australian release for the Lumia 535 has yet to be confirmed.