Microsoft planning Lumia 3XX and 4XX series to replace Nokia X?

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Exclusive: Lumia 435 will join the Lumia range soon to redefine the entry-level. Specifications. | NPU

Microsoft will take the Lumia range beyond 5XX series and the latest entry-level Lumia will be called Lumia 435.
MS targeting Intex, Lava, etc for cheapest entry-level smartphone. It is already known that MS has stopped Nokia X Platform. Perhaps Lumia 3XX and 4XX series would also replace Nokia X.