The phone will be called the Lumia 822, which means it's a variation of the low-end Lumia 820 that was announced in September.
Like the other Lumias, the 822 will run the new Windows Phone 8 software, which Microsoft will unveil later today at a big press conference in San Francisco.
Nokia and Verizon did not announce a release date or pricing for the phone, but Windows Phone 8 devices are expected to start rolling out within the next two weeks or so.
UPDATE: Nokia has released pricing for the Lumia 822. It'll cost $99.99 with a two-year contract.
More From Business Insider
- Unboxed: Here's Microsoft's Surface Tablet
- Google Snubs Bing With Hilarious 'Get Your Google Back' Video
- Crazy, Beautiful, Strange: Get A Look At The Dizzying Array Of Windows 8 Devices Hitting Shelves Now
- Technology & Electronics