Microsoft released the budget-friendly Lumia 550 in multiple markets across the globe in December. The entry-level Windows 10 smartphone has since been available in the U.S. via third-party retailers like B&H Photo Video.

Now, the handset is finally available from the Washington tech giant itself. The unlocked version of the Lumia 550 costs $140 on the Microsoft Store, $10 cheaper that what B&H is asking for the same device.

As of the moment, Microsoft is only retailing the black version of the Lumia 550 while B&H also has the white version on sale. As an unlocked smartphone, the device can work on both T-Mobile and AT&T.

Priced at $140 with no contractual obligations, the Lumia 550 is the cheapest device out in the market today which boots Microsoft's latest mobile operating system.

The Lumia 550 features all the standard Microsoft apps, including Office, OneDrive and Cortana. Its integration with OneDrive allows users to pick up where they left off across several Windows 10-supported devices.

Windows 10 aims to unify the smartphone and desktop experience by letting developers create apps that can run on all Microsoft platforms, including phones, tablets, laptops, desktops and even on the Xbox One.

Going back to the Lumia 550, it rocks a 4.7-inch LCD screen with 720 x 1280 resolution display. Qualcomm's Snapdragon 210 processor is under the hood alongside 1GB of RAM and 8GB of internal memory. Native storage can be expanded up to 200GB via a microSD card slot.

The lights are kept on by a 2,100 mAh battery which delivers 16 hours of talk time and could theoretically last up to 28 days when the handset is left idle. Videos can run for seven hours while songs can be played for 60 hours, GSMArena reported.

The Lumia 550 is fitted with a five-megapixel rear camera that includes LED-flash, geo-tagging, autofocus and touch focus. The back-facing unit can record 1280 x 720 resolution videos at 30 fps. The two-megapixel front-facing snapper takes subpar selfies and video calls.

The handset is the cheapest Windows 10 smartphone available right now, but it's not the cheapest Lumia-branded device to ever hit the market. Microsoft launched the $90 Lumia 532 and $80 Lumia 435 for developing markets in January 2015, as per VentureBeat.

It should be noted that Windows 10 for mobile devices isn't exclusive to handsets made by Microsoft. According to K-Tai, mobile manufacturers in Asia like Acer, VIAO and Freetel are scheduled to launch their Windows 10 smartphones sometime this year.

Bloomberg reported that Microsoft CEO Satya Nadella plans to refocus the company's efforts away from "devices and services." Nevertheless, the company hasn't fully given up on its smartphone business with the recent releases of the new Windows 10 devices. Microsoft is still hopeful it can gain some traction in an industry dominated by Android and iOS.