What sort of smartphone can you buy for just $70? Well you're about to find out, as Microsoft just launched the Lumia 430, their latest budget handset that features surprisingly okay specifications for a very low price tag.

Of course the Lumia 430 isn't going to be a performance powerhouse at its price tag, but it does feature hardware that has been reserved for more pricey entry-level smartphones in the past. You get 1 GB of RAM and 8 GB of internal storage to complement the Snapdragon 200 SoC, as well as cameras on both the front and back.

The cameras aren't going to be the greatest - the rear sensor is 2-megapixels and fixed focus, while the front camera is merely VGA - but you will be able to send the occasional selfie. There's also a 4.0-inch 800 x 480 LCD display, a 1,500 mAh removable battery, a microSD card slot, and support for HSPA networks on the 900 and 2100 MHz bands.

Microsoft also says that the Lumia 430 will be updated to Windows 10 (from Windows Phone 8.1) when the OS is released this summer, which is great to see. Many budget Android devices in this price bracket never see updates, so Microsoft is certainly beating its rivals in this regard.

The dual-SIM Lumia 430 launches in several emerging markets, including India, Russia, Kazakhstan, Belarus, the Middle East, Africa, and parts of Asia Pacific, this April.