Running Windows Phone 8.1, the Lumia 530 features on-screen software buttons, unlike the 525 and 520 (both of which have capacitive keys). Its screen should be a 4.3-inch one, likely with a 480 x 800 pixel resolution, while the rear camera doesn’t seem to have an LED flash. Other expected features include a Snapdragon 200 processor, 512MB of RAM, and dual SIM capabilities.
Seeing that the Lumia 635, which is brand new itself, will be offered for as low as $99, the Lumia 530 may cost even less, likely becoming the cheapest Windows Phone 8.1 device on the market. So it looks like Microsoft is very determined to win the hearts of customers who don't want to pay too much for a smartphone. We'll see later this year if it succeeds.