Nokia Corporation (ADR) (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) CEO Stephen Elop has continued alluding that his company may launch an even lower-end Windows Phone device after it just introduced the lower-priced Lumia 520 on Monday.

Stephen Elop CEO Nokia

This is now the company’s least expensive Windows 8 phone option with specifications including a four-inch screen, a 1GHz dual-core processor and 8GB of storage.

Elop, in attendance at this year’s Mobile World Congress in Barcelona, oversaw the company’s launch of the phone. Priced at €139 ($181), he did not deny another phone could be introduced at even lower price.

He said in an interview with the Wall Street Journal regarding other lower-end phones, “There’s still a lot of excitement to come in 2013.” When pressed about whether a device lower than the 520 could hit the market, he repeated, “Let’s just say there’s still a lot of excitement to come in 2013.”

Elop’s remarks came after his company introduced three other new phones: two come in Nokia’s lowest range, the two Lumia products including the 520 (entry-level) and the 720 (mid range).

The cheapest phones garnered the most attention, especially with the launch of the company’s €15 phone ($19.56 USD). Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) has previously found great success with these mass-marketed phones and as a result reached the top as the world’s biggest phonemaker.

The newest phone is a replacement for the Nokia 1280; the company has sold 100 million-plus of them.

But within emerging markets, these consumers are looking for inexpensive Android devices with a $100 price; this is almost twice as much as the most inexpensive Nokia Lumia phone.

Along with the introduction of the Lumia line back in October 2011, Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) also introduced even cheaper phones its Asha devices, which had a focus on the emerging markets. While the phones give an experience similar to the smartphone, it is not the same.

Elop said at the Mobile World Congress, Nokia is working towards making the transition for consumers to go from the Asha phones to the Lumia an easy one.

Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) has said pressure from this group allowed them to convince Microsoft Corporation (NASDAQ:MSFT) to cut Windows Phone specifications, enabling Nokia to attempt to compete in traditional markets, reported The Wall Street Journal.

Elop added there was a not strategic shift by the company and with the launch of cheaper phones, it did not stem from weak sales in the Lumia phones.

The launch comes as the research firm IDC had ranked Nokia Corporation (NYSE:NOK) (BIT:NOK1V) (HEL:NOK1V) as the third largest maker of smartphones in 2012 as its older models and non-Windows phone were major sales contributors.