Amazon is now offering the AT&T Nokia Lumia 1520 for just $49.99 on-contract, significantly lower than the carrier's $199 asking price.

The Nokia Lumia 1520 is the company's first phablet and it's also the first Windows Phone-powered phablet. The device is exclusive to AT&T in the U.S. and Amazon now has a very attractive offer for the Lumia 1520 when signing a two-year contract with the carrier.

Amazon recently offered the Nokia Lumia 1520 for $99.99 on-contract, which was $100 off AT&T's pricing. Now the retailer is applying an even heavier discount, selling the phablet for just $49.99. Amazon has all the color options available, which means that you can get the black, white, yellow, or red Lumia 1520. Interested buyers can also choose between individual and family plans.

For those unfamiliar with the device, the Nokia Lumia 1520 boasts a large 6-inch ClearBlack IPS LCD display with a full HD resolution of 1920 x 1080, a 16:9 aspect ratio and a pixel density of 368 pixels per inch (ppi). Under the hood, the phablet houses a powerful Qualcomm Snapdragon 800 quad-core processor clocked at 2.2GHz, coupled with 2GB of RAM. The phablet offers 32GB of internal storage capacity, as well as a microSD card slot for additional memory of up to 64GB.

The Nokia Lumia 1520 also sports a high-end 20-megapixel PureView camera with several advanced features, as well as a 1.2-megapixel front-facing shooter. In terms of software, the phablet runs Microsoft's Windows Phone 8 platform and comes with the Lumia Black update and GDR3. A powerful 3,400 mAh battery keeps things up and running.

Nokia may have lost significant ground to its iOS and Android rivals, but the company is still well-known for its high-quality devices. The high-end Lumia 1520 marks a significant step forward not only for Nokia, but also for the Windows Phone 8 platform.

As previously mentioned, AT&T is selling the Nokia Lumia 1520 for $199 on a two-year contract, but you can now get the exact same device for just $49.99 from Amazon. To take advantage of this deal, head over to the retailer's website at this link. Amazon doesn't mention when this offer will expire, but interested buyers might want to take advantage of it while it lasts. As usual, the retailer is also throwing in free two-day shipping with the order.