The Microsoft Lumia 535 is an entry-level smartphone developed by Microsoft Mobile that runs the Windows Phone 8.1 OS and is upgradable to Windows 10 Mobile. The phone features a 5-inch display. It is equipped with a 5 MP front-facing camera. It is the first Microsoft-branded phone to be used after its acquisition of Nokia's mobile phone business.

Microsoft Mobile Oy was a subsidiary of Microsoft involved in the development and manufacturing of mobile phones. Based in Espoo, Finland, it was established in 2014 following the acquisition of Nokia's Devices and Services division by Microsoft in a deal valued at €5.4 billion, which was completed in April 2014. Nokia's then-CEO, Stephen Elop, joined Microsoft as president of its Devices division following the acquisition, and the acquisition was part of Steve Ballmer's strategy to turn Microsoft into a "devices and services" company. Under a 10-year licensing agreement, Microsoft Mobile held rights to sell feature phones running the S30/S30+ platform under the Nokia brand.