Microsoft will now use only the Lumia branding on devices once called Nokia Lumia. Microsoft

Microsoft will unveil its first Lumia-branded smartphone next Tuesday, just over three weeks after announcing that it would drop the original “Nokia” name under which the devices were sold.

The Redmond, Washington-based company sent out press invites for the launch of its new device Friday with a teaser image of an orange, curved Lumia smartphone. The phone is expected to be a budget device with low-end specifications, including a 5-inch display, 1.2 GHz Qualcomm Snapdragon chip, 1 GB of RAM and a 5-megapixel camera. "Microsoft is delivering the power of everyday mobile technology to everyone," the invite reads.

Since acquiring the Nokia mobile division in April, Microsoft has launched a number of smartphones under the Nokia Lumia brand; however, the company had licensing for the name for only 18 months after closing the deal. Future smartphones will be called Microsoft Lumia, though Microsoft can use the Nokia branding on feature phones for the next 10 years.

Microsoft hopes that its Lumia restructuring will add some growth to the company's tepid phone business. CEO Satya Nadella said during a recent conference call that Microsoft has seen solid growth with low-end devices selling in Europe. Microsoft CFO Amy Hood said the company “remains committed to having the phone business break even in fiscal 2015.”

Microsoft has partnered with 50 different hardware manufacturers in order to launch devices running on the Windows Phone operating system, and this week the company announced that some versions of Office will be free to use on iOS and Android smartphones.