Budget phones have been Microsoft's theme for the last few months, and that trend does not look to let up. Latest rumors have a Lumia 435 and Lumia 1330 on the immediate horizon, likely for a Mobile World Congress announcement or perhaps even sooner.
The Lumia 435 has not been discussed much around here due to the lack of hard evidence, but now that looks to be changing. ANATEL (Agencia Nacional de Telecomunicacoes) is Brazil's equivalent of the FCC in the United States. As such, they occasionally let slip new phones before their public announcement, and that is what has happened with the Lumia 435.
Full story from the WindowsCentral blog...