As mentioned last month, the Lumia 650 is expected to be marketed as an affordable business phone (though, at the moment, its exact price isn't known). If recently leaked renders - see below - are accurate, the handset has a premium look, thanks to the fact that it's built around a metal frame. However, its features are far from premium, including a 5-inch display with 720 x 1280 pixels, a quad-core Snapdragon 212 (or 200) processor, 1 GB of RAM, and just 8 GB of storage space (luckily, there's also a microSD card slot). Needless to say, the Lumia 650 will run Windows 10, becoming Microsoft's fourth smartphone to be based on this new version of the OS - after the Lumia 950 XL, Lumia 950, and Lumia 550, all of which were announced in October 2015.
Interestingly, Windows Central has it that the 650 will be Microsoft's first and last Lumia for 2016, mentioning that the Lumia 750 and Lumia 850 have been cancelled. But this doesn't mean that Microsoft is done with releasing handsets this year: a Surface Phone (apparently powered by Qualcomm's Snapdragon 820 processor) is expected to be introduced sometime in the fall.
source: Windows Central