Nokia's First Windows 7.8 Phone Is Low-End
WMExperts

The Lumia 505, Nokia's first smartphone running Windows Phone 7.8 out of the box, has been unveiled. Feature-wise, the 505 is an entry level-or budget phone although it looks strikingly bold. Specs include an 800MHz CPU, 25GMB of RAM, 4GB of internal storage, 3G connectivity, just 7 hours of talk time, and an 8MP rear camera that doesn't have flash and only captures VGA recording. The device doesn't have a front-facing camera and a MicroSD slot.

What Else You Need To Know

  • The device's slated to debut through Mexico's largest mobile carrier in the coming weeks. Pricing and availability in other countries have not been announced.
  • The Nokia Lumia 505 also features a 3.7-inch WVGA (800 x 480) ClearBlack AMOLED display, dimensions of 18.1 x 61.2 x 11.3 mm, weight of 131 grams, 1,300 mAh battery that can provide a talk-time of up to 7 hours or a stand-by time of up to 600 hours, FM Radio built-in, and availability in three colors (black, red and pink).

Other sources

While this is a "budget" device I feel Nokia should have upgraded in memory department. - Kevin Everett, Daily Mobile  
It remains to be seen if Nokia will introduce the handset in other markets. - Florin, Unwired View  
Other
Nokia Leaks Lumia 505, Sells Headquarters to Stay Afloat
WMExperts
Nokia makes the budget conscious Lumia 505 Windows Phone official
WM Power User
Nokia Mexico makes Nokia Lumia 505 official
Phone Arena
Entry-level Nokia Lumia 505 now official, features Windows Phone 7.8 right out of the box
Softpedia
Nokia Lumia 505 Officially Unveiled with Windows Phone 7.8
Pocketnow
Nokia Reveals Lumia 505  

As shouldn’t be much of a surprise for a model like this, the 505 has a scant 256MB of RAM and just 4GB of flash.

Fone Arena
Nokia Lumia 505 with Windows Phone 7.8 goes official
GSM Arena
Nokia Lumia 505 is now official, pricing remains unknown
Engadget
Nokia Lumia 505 gets official for Telcel in Mexico  

You'll find quadband GSM support on this one, along with WCDMA access (topping out at 7.2Mbps HSDPA) over the 850MHz and 1900MHz bands.

Other
Nokia Lumia 505 with Windows Phone 7.8 now official  

It remains to be seen if Nokia will introduce the handset in other markets.

 
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