Nokia revealed its refreshingly clean redesigned Lumia 925 in London this morning, and it has mobile users buzzing with excitement. The product is a major step up from the Lumia 920, not so much due to huge performance or feature upgrades, but its slimmed-down exterior and overall look.

The Lumia 925 stands out with a sleeker, more durable aluminum frame, replacing the 920’s clunky polycarbonate shell. And the weight difference is noticable — the Lumia 925 weighs in at 4.9 ounces compared to its predecessor tipping the scale at 6.7-ounces.

“There is a broad recognition that the Lumia 920 was too heavy and fat, but it has still done better than most people expected,” said Canalys principal analyst Pete Cunningham. The internal specifications on both phones are essentially the same, with an identical dual-core 1.5GHz processor, 1GB of RAM, the ability to charge wirelessly with a thin charging cover attached to the back of the phone, ane an impressive 8.7-megapixel camera with optical image stabilization.

But one additional feature launching with the 925 is the Nokia Smart Camera, which can capture 10 images at once, then allows you to edit photos with features like Motion Focus and Action Shot to get the best results. Although with the new design, some sacrifices needed to be made. Storage has been cut down to 16GB.

Staying consistent with its sleek branding, the 925 will also adopt more muted colors – coming in black, white and grey – rather than a bright range of colors like its other smartphones.

The Lumia 925 will be coming exclusively to T-Mobile this summer, which is a huge win for the no-contract carrier. But the price tag could still be as high as $500-$600. Even with T-Mobile’s contractless plans that allow customers to pay off the phone monthly, is that price too steep? Would you be willing to pay?