In its attempts to target the world's developing markets with its affordable Windows smartphones, Finland handset-maker Nokia recently revealed that it will start selling its new handset - the moderately-priced Lumia 510 - in emerging markets from next month.

The Lumia 510 smartphone from Nokia - which is desperately trying to gain some of its lost ground in the smartphone arena - is an Internet-ready handset, which will be initially be available in Latin America, China, India, and a few other emerging markets with low smartphone penetration. To the Indian users, the smartphone is being marketed as 'Nokia's Diwali gift to India.'

According to the information shared by Nokia, the Lumia 510 - the eighth handset in the company's Lumia line of smartphones - will run the Windows OS and will likely be priced at around $200.

Chiefly aimed at the young smartphone users, especially those aged between 18 and 24 years, the Lumia 510 boasts a 4-inch screen; and a 5-megapixel camera. The handset will be available in five colors: black, white, red, yellow, and cyan.

With the Lumia 510 marking Nokia's first advance in the direction of notably expanding its Lumia handset line for creating a full range of alternatives to iOS and Android-based smartphones, Jo Harlow - Executive VP of Nokia's smart devices business - said that the new reasonably-priced smartphone reiterates Nokia's commitment "to bring Windows Phone to new, lower price points."