Nokia Lumia 505  is officially announced in Mexico. This brand new model from Nokia is not part of the Asha series.

Nokia Lumia  505 runs on Windows Phone 7.8 It comes with a 3.7″ screen AMOLED display with WVGA (480x800px) resolution. The Nokia Lumia 505 weighs 131 grams and measures 118.1 x 61.2 x 11.3 mm.

It has  8 MP camera and a 1300MAh battery. Nokia says the battery will be good for 36 hours of music playback and 7.2 hours of 3G talk time. The maximum standby time is reported at 600 hours. The Lumia 505 includes only 256MB of RAM. It has  just 4GB of storage with no microSD expansion. It also has Bluetooth 2.1, WiFi (b/g/n) and both 2G and 3G connectivity.

Nokia Lumia  505 colors available are Pink, Black and Red.

Nokia will be available on the Telcel network in Mexico. Currently the release date or the price is not published.

From this available info, it appears to be an entry level phone for budget phone market.

Nokia Lumia 505 photos look very good with those fresh colours.