In addition to unveiling its high-end Lumia 950 and 950 XL smartphones at a New York press event today, Microsoft introduced its entry-level Lumia 550 handset as well. The 4.7-inch device will be available starting in December for $139 unlocked (no UK or Australia pricing has been announced as of this time, but that roughly converts to £91 and AU$195) and will run Microsoft's latest operating system, Windows 10 .

The 4G LTE-enabled handset is compact and comes in black and white with a glossy plastic backing. It features a high-definition display with a 720-pixel resolution with 315 pixels per inch. It's powered by a 1.1GHz quad-core Snapdragon 210 processor and a 2,100mAh battery that has an estimated usage time of 13.9 hours on 3G and a standby time of 28 days.

As for its camera specs, there's a 2-megapixel front-facing shooter for selfies and Web chatting, and a 5-megapixel rear-facing camera that can shoot 720p video. To store your photos and videos, built-in memory starts off at a relatively low 8GB, but users can expand that up to 200GB via a microSD card slot.

The Windows 10 OS features Microsoft's digital and search assistant, Cortana , and integration with the video chatting and calling service Skype. Other Windows 10 devices that Microsoft debuted today include the Surface Pro 4 tablet and the Surface Book , the company's first laptop.

For more information, check out the rest of CNET's Microsoft coverage.