Before Nokia will completely switch to Windows Phone, it continues to produce Symbian-powered smartphones. Yesterday the company officially announced the Nokia 500 that was rumored back in June. Now we know this budget handset will be available later in Q3, and it can be a good choice for those who can’t afford expensive phones.

The Nokia 500 comes with a standard sport design and measures 111.3mm x 53.8mm x 14.1mm while weighing 93g. The phone will be available in two colors — black (in Q3) and white (in Q4), but the box will contain three back plates of other colors.

The smartphone is the first Nokia handset packed with a 1GHz processor. Moreover, it runs Symbian Anna and sports a 3.2-inch touchscreen, a 5MP camera, 2GB of internal memory expandable up to 32GB via microSD card slot and a standard 1100mAh battery providing up to 7 hours of talk time or 19 days of standby. Generally, this is a penta-band device supporting HSPA 3G 850/900/1700/1900/2100MHz bands.

The Nokia 500 will cost 150 EUR ($216), so it can easily replace expensive smartphones for those who don’t want to waste much money on glamorous handsets.