The Nokia Lumia 620 is possibly the best smartphone under £150 regardless of the operating system and could quickly become Windows Phone 8’s most popular device.

It is currently on sale at eBay for £150 via a retailer called Ruscommobile and comes with £10 credit on O2 and 150 nectar points. The phone is locked to O2 but should be compatible with Tesco Mobile and Giff Gaff.

The handset runs on a dual-core Qualcomm Snapdragon MSM8260 SoC clocked at 1GHz. There’s also 512MB of RAM, 8GB onboard storage, a microSD card slot, a 3.8in LCD ClearBlack display with a 800 x 480 resolution, a 5-megapixel camera with flash, a VGA front facing one, Wi-Fi, Bluetooth and a wealth of Nokia applications.

These include Nokia Drive navigation, Nokia Mix, Nokia Music, Nokia City Lens and Cinematograph. The Lumia 620 probably provides with better value for money compared to the Nokia Lumia 820 which costs more than twice its price.

Expect a few more devices to be launched at Mobile World Congress later this year including the first Lumia smartphone with Pureview technology. Check out our review of the Nokia Pureview 808 here.