Pricing for the Nokia Lumia 720 has surfaced for the Russian market. The 4.3" WVGA screened Windows Phone will run 14,990 rubles. Which comes out to be about $487 U.S.
The mid-range Windows Phone 8 device will sport a 1GHz dual-core processor, 512MB RAM and 8GB of storage. You'll also find microSD support, super sensitive display technology (like on the Lumia 920) and 1.3MP front facing camera and 6.7MP rear camera.
Source: Hi-Tech Mail Ru, Thanks, Nepobedimas, for the tip!