Lava announced its new Android based phone Iris N350 for Rs. 5,499 and company has targeted it for entry level budget buyers. Company claims this phone is their flagship phone and will compete with other cheap level phones from companies like Micromax, Zync and all. Lava is also going to launch some other phones under its new flagship brand Iris. Company says this brand will provide rich smartphone experience to users and also supports their wallets too. But it is not having 3G capacity compared to Micromax A57 Ninja 3, which is having lower price with 3G feature than Iris N350.