This is Microsoft's latest Lumia smartphone which will come with Windows 10 Mobile onboard. The Lumia 550 is expected to feature a 4.7-inch AMOLED display with a resolution of 720x1280 pixels, 8GB of onboard storage, 1GB RAM running on the Snapdragon 210 quad-core processor. According to the leaked images you can expect it to be available in Red, White, Blue and Black colors.
The design of the device is quite similar to other lower-end Lumia smartphones, most notably the Lumia 530. You have on-screen buttons here. Rumored specs also say that the Lumia 550 will have a 2MP front-facing camera alongwith a 5MP AF rear camera and this is going to be priced below $120.
So, its not just the flagship devices we see launched at Microsoft's October 6 event but a couple of entry level and mid-range units as well.
Source: WMPowerUser
