Acer has finally unveiled their first ever Windows Phone called the Acer Allegro which is billed to be the most budget-friendly WP7 handset , costing just $420 off-contract. Specs here include a 1GHz single-core CPU, a 3.6-inch WVGA display, 1GB RAM, and a 5-megapixel camera with dual-LED flash.

This one will be running on the Windows Phone 7.5 Mango OS with Metro UI. Although future support for Tango hasn’t been explicitly announced at the moment, but there are very high chances it is going to be there. For now, it will become available in France in mid-November and eventually make it to other European markets before the end of 2011. It is also going to be one of the first three WP7 handsets to be made available in India as well, but we don’t have a date for that yet.
[Engadget]