Check out our review of the Nokia Lumia 920 Windows 8 phone.

Nokia’s flagship Windows Phone 8 device hasn’t been on the market for too long, but the Lumia 920 has already seen a significant price drop. The AT&T exclusive debuted in November for $100, and the phone is now available on Amazon for as low as $40.

The $100 price point still stands when purchasing elsewhere, but the online retail giant has slashed a significant amount off the device’s price tag. Its sister phone, the slightly lower-end Lumia 822, was originally made available on Verizon’s network for $100 as well. However, the carrier is now offering it for free with a two-year contract.

T-Mobile is offering a similar deal for its subscribers. T-Mobile USA is selling Nokia’s Lumia 810 for free a contract as well.

“Pricing is always a carrier decision, but holiday season promotions are fairly standard at this time of year,” Nokia spokesperson Doug Dawson said to The Wall Street Journal.

While Nokia has not released any official sales figures for its new Windows Phone 8 Lumia line, sales in the second quarter of 2012 reached four million, Mashable reports. This may sound like a lot of phones to sell within three months, but the number pales in comparison to Apple’s iPhone sales. The Cupertino, Calif.-based company sold 35.1 million units of its smartphone during the same time period. That’s more than eight times the amount of Nokia Lumia devices sold.

This price drop could work to Nokia’s benefit. Its Lumia line will now target an entirely different sector of the market, providing another smartphone alternative for budget and value smartphone shoppers. At the same time, it maintains its $100 price point aimed at smartphone buyers willing to shell out a few more bucks.

Amazon is no stranger when it comes to offering sizeable discounts on smartphones. While purchasing a Nokia Lumia 920 for $40 may be one of the biggest bargains on the Web, Amazon has also slashed Samsung’s Galaxy S3 down to the same price range. Sprint users can purchase the 16GB Galaxy S3 via Amazon for $50, Verizon users can buy it for $60, and AT&T subscribers can snag it for a slightly higher cost at $80.