Update: Verizon slashes the price of Nokia Lumia 735 to $29.99 on a two-year contract.

The Nokia Lumia 735 selfie phone is now available in the U.S. on Verizon Wireless, selling for $79.99 on a two-year contract.

Back at IFA 2014, the Lumia 730 and Lumia 735 smartphones made their debut with virtually identical specifications, with the exception that the former has dual-SIM support, while the latter is single-SIM but has LTE connectivity. The Lumia 735 now finally reaches the U.S., launching only on Verizon Wireless.

It's also worth pointing out that the Lumia 735 theoretically sports the Nokia branding, as it arrived before Microsoft took over and pushed its new Microsoft Lumia brand. Verizon, however, lists it with Microsoft branding.

Among the highlights of the Lumia 735 is its 5-megapixel front camera, as Nokia marketed the device as a selfie and Skype phone. According to the company, the handset will provide a smartphone experience with no compromises, at an affordable price point.

In terms of hardware specifications, the Lumia 735 features a 4.7-inch AMOLED display with an HD resolution (1280 x 720 pixels) and packs in a quad-core Qualcomm Snapdragon 400 processor, clocked at 1.2GHz and coupled with 1GB of RAM.

Other specs of the Lumia 735 selfie phone include 8GB of onboard storage, microSD support for up to 128GB of additional memory, a 6.7-megapixel rear camera with LED flash, and a 5-megapixel front camera for selfies and video calls.

The smartphone further comes with a 2,200mAh battery and has wireless charging capabilities. When it comes to software, the Lumia 735 ships with Windows Phone 8.1 out of the box, but will get an upgrade to the upcoming Windows 10 Mobile OS when it rolls out later this year.

In other words, the Lumia 735 comes with mid-range specifications and a rather compact form factor, but it should offer a more than decent smartphone experience on a budget. Verizon is now offering the LTE-enabled smartphone for $79.99 when agreeing to sign a two-year contract, or for just $8 per month with Verizon EDGE. Those who prefer to purchase the device outright, meanwhile, will have to shell out $192.

The Lumia 735 joins the HTC One (M8) for Windows and the LG Lancet as the third Windows Phone handset in Verizon's lineup.

To purchase the selfie-friendly Lumia 735 smartphone from Verizon Wireless, head over to the carrier's website. To get a better idea of the device and its capabilities, check out the video below.

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