A lot of things have been happening in Microsoft since Satya Nadella took the helm as chief executive officer. Most recently, it decided to drop the Nokia brand name as the company starts reshaping its mobile phone business.

Since Android One has just been released in India, Microsoft is picking up the pace in the country as well after launching feature phones priced affordably at less than $40. India has a massive market and Microsoft wants to tap into that, most especially first-time buyers in the emerging market.

Pricing is crucial in capturing target markets so Microsoft is going on the offensive as it aims to revive what used to be a sizeable chunk of the market it once had. This will also allow the company to bridge the gap between market leaders Android and iOs and the Microsoft Windows operating system.

Smaller players like Mozilla are also testing the waters with their own mobile offerings so Microsoft can't just sit back.

"We're just beginning a refresh of the entire portfolio. We aim to push the price point of Windows phones significantly lower - we certainly see that happening on the Android ecosystem - without impacting quality and experience," explained Microsoft's vice president for mobile device sales Chris Weber.

Corporate vice president for phones Jo Harlow said that there remains a billion people around the world who do not have any kind of mobile device and another two billion who do not have internet access on their devices. These people are what Microsoft is aiming to target with its more budget-friendly offerings.

Earlier in August, Microsoft released its "First" set of highly affordable mobile phones called the Nokia 130 and Nokia 225. Both of these devices are using Symbian 30+ as their operating system.

Microsoft acquired Nokia's device business as a means of boosting its mobile arm, a step necessary it its goal to fully become a devices and services company. However, Nadella is all about streamlning the business so Microsoft has not had any qualms lopping off products and services it feels will not further its goals.

This doesn't surprise former Nokia CEP Stephen Elop though, who now heads Micrsoft's devices group. He admits he didn't see the Nokia brand sticking around with Microsoft and it would appear he's right. The Lumia 730 and Lumia 830 will be the last devices to use the Nokia name.

Windows Phone devices are also receiving a rebrand and will now be referred to simply as Windows devices.