Nokia just announced a new budget S40 device, the new Nokia C2-01.

The C2-01 is basically a low priced Series 40 phone that measures 109.8 x 46.9 x 15.3mm, weighs 89g and features 3G, 3.2MP camera, and support for apps & games from Ovi Store.
Worth noting that it is Nokia’s cheapest 3G phone so far. There’s a traditional keypad and a 2 Inch screen. As usual you have a music player, FM Radio, Bluetooth, and can handle upto 16GB worth of microSD. Unlike the C2-00 though, this is a single SIM device.

All this for an estimated price of 70Euros (Indian Rs 4300, US $ 96) before taxes. The C2-01 is estimated to hit stores in Q1 2011. More details over on Nokia Conversations.
[...] Nokia launches the new Nokia C2-01 [...]