A new report by AdDuplex cites that the budget Nokia Lumia 520, which also happens to be the cheapest Windows Phone 8 offering, is in fact the most popular device running Microsoft’s WP8 mobile OS.

Nokia Lumia 520 most popular Windows Phone 8 Nokia Lumia 520 is the most popular Windows Phone 8 handset, market lessons learnt

I’m pretty sure that you’re familiar with the Nokia Lumia 520. If you’re from India, and are looking to buy a new budget phone, chances are that you have yourselves a Lumia 520 for yourself. And why not? A dual-core processor, a decently sized 4-inch display and a 5 MP camera at the back are more than enough for INR 9500, roughly $160. Add to that the stability and smoothness that Microsoft’s Windows Phone 8 platform offers, and unless you are willing to pick up a cheap Chinese Smartphone, the Lumia 520 is the most attractive offer in its price bracket.

AdDuplex, Windows (and Windows Phone) advertising network have released its findings that the Lumia 520 is currently the most popular WP8 device in circulation, accounting for about 12% of all the Windows Phone devices. Quite a hefty number eh? This market share statistic is higher than that enjoyed by the previous flagship Lumia 920. So what does this finding tell us really? That Nokia and Microsoft’s joint initiative to bring cheaper Windows Phone 8 hardware to the masses paid off, and the user base of Windows Phone has gotten a huge boost thanks to the combined efforts of both companies. Microsoft made the standard design, Nokia made it happen in the market.

WPPowerUser reports:

In June the [Lumia 520] had 8.4% of the market, while the Nokia Lumia 920 led with 12%. In May the NL 520 only held 4.4% share, and one can assume at least another 4% of the Windows Phone market has been ceded to the device.

With a global price of about $150, the Lumia 520 is sure to see even greater success in the near future. We doubt that Nokia and Microsoft can hit the $100 mark with a WP8 device without selling the device at a loss. Honestly, if Microsoft were to back such a move by providing financial aid to Nokia for a (imaginary) Lumia 420 and sold it for $100, it would bring a ton of new users to the Windows Phone camp, increasing the footprint of the OS, something that Microsoft has been fighting very hard to achieve. Of course, a larger sized Lumia 525 (as per new rumors) would also bring more prospect buyers as youngsters (the target crowd) prefer larger screens these days over anything else (hence the success of the Samsung Galaxy Grand).