The Nokia Lumia 520 for AT&T is now just $49.99 off-contract from the Microsoft Store, down from the previous $99.99 price tag.

The Nokia Lumia 520 may not be the highest-end handset, but it's the most popular Windows Phone 8 smartphone of all. Its low price tag and decent spec sheet has attracted numerous buyers, and now the handset is even cheaper, as Nokia announced its Lumia 525.

The Nokia Lumia 525 comes as the Lumia 520 successor, but there are no price or availability details available just yet. In the meantime, the new generation has prompted an attractive price cut for the Lumia 520.

The Microsoft Store is currently listing the Nokia Lumia 520 with a $49.99 price tag off-contract, as a part of AT&T's GoPhone plan. AT&T still lists the smartphone at $99.99 on its website at the time of writing, but is expected to drop the price to $49.99 as well.

The Nokia Lumia 520 has always been among the most affordable smartphones, but $49.99 is the lowest price yet for the handset. The promotion is expected to kick off at AT&T in a few hours and last until Dec. 2.

As a reminder, the Nokia Lumia 520 sports a 4-inch display with a resolution of 800 x 480 pixels, packs a dual-core processor clocked at 1GHz and 512MB of RAM. While the resolution is modest, the handset's display is super sensitive, allowing users to operate it even while wearing gloves, or type with their fingernails. The smartphone also features a 5-megapixel rear camera and runs Windows Phone 8, upgradable to the Nokia Lumia Amber update.

The Nokia Lumia 520 has been a great hit worldwide, although it seems to have the lowest price tag in the U.S. In other parts of the world, the smartphone goes for around $180, considerably more even compared to the initial $99.99 price in the U.S.

With the holiday shopping season just around the corner, the Nokia Lumia 520 will likely become even more popular with its new $49.99 price tag off-contract. Keep in mind, however, that this promotion is expected to be available only for a limited period, so interested buyers might want to take advantage of it while it lasts.