Microsoft on Wednesday announced 5-inch HD display smartphone Lumia 540, an addition to its Lumia series, priced at $149 (Rs 9,300 approx). The device runs on Windows 8.1 and is powered by 1.2 GHz quad-core Qualcomm Snapdragon 200 processor coupled with 1GB RAM and 8GB internal memory. The smartphone is expected to roll out in India in May 2015.