Demand for both budget and flagship devices continues to rise in India, which is being seen as the fastest-growing market for smartphones. Companies are fulfilling consumers' demands with their latest releases at the same time trying to be the top contender in the race. If you missed some of the latest entries in the premium and budget smartphone category recently, here are the top five devices launched in India this week.

Microsoft Lumia 950 and Lumia 950XL

Microsoft made quite an impression with its latest flagships, Lumia 950 and Lumia 950XL, at the Windows 10 Devices launch event in October. After a long wait, the Redmond-based software titan finally released the handsets in India on 30 November. The Lumia 950 will be available for Rs 43,699 while the Lumia 950XL will be sold for Rs 49,399 in India starting 11 December.

Both Lumia 950 and Lumia 950XL have several features in common, except for the screen sizes, processor and battery. Both phones are powered by Windows 10 Mobile OS, 3GB RAM, 32GB expandable storage, 20MP PureView rear-camera with triple LED flash and 5MP front snapper, dual SIM and 4G LTE support.

The Lumia 950 features a 5.2-inch QHD AMOLED display with ClearBlack tech and Gorilla Glass 3, whereas Lumia 950XL packs a bigger 5.7-inch display with same resolution but Gorilla Glass 4 protection. The smaller flagship is powered by a 1.8GHz Qualcomm Snapdragon 808 Hexa-core processor, while a 2.0GHz Qualcomm Snapdragon 810-core chipset powers the Lumia 950XL. There is also a smaller 3,000mAh battery in the Lumia 950 while the 950XL variant packs a 3,340mAh battery.

[Read: Microsoft launches flagship Lumia 950 series in India: Price, specification]

Micromax Canvas Pace 4G

Favouring the demand for affordable budget phones in India, Micromax launched Canvas Pace 4G earlier this week. Available exclusively on eBay, Canvas Pace 4G carries a low price tag of Rs 6,821. For that price, buyers get a 5-inch FWVGA IPS display, 1.1GHz Qualcomm Snapdragon 210 processor, 1GB RAM, 8GB expandable storage, 5MP primary camera, 2MP front-snapper and a 2,500mAh battery.

The handset also supports 4G LTE speeds and has dual SIM slots.

[Read: Micromax launches Canvas Pace 4G with Snapdragon 210 CPU in India; price, specifications]

Panasonic Eluga Mark

Panasonic expanded its Eluga range of smartphones with the all-new Mark this week. The handset focuses on bringing enhanced mobile security with complimenting features. Launched at Rs 11,990, the Eluga Mark has integrated fingerprint scanner and support for Android-For-Work, which ensure it is compatible to work on secure corporate platforms.

Panasonic Eluga Mark also offers good specs, with a 1.5-GHz octa-core Qualcomm Snapdragon 615 processor, 2GB RAM and 16GB expandable storage. The handset features a 5.5-inch HD display, 13 MP primary camera with LED flash, 5MP front snapper and a 2,500mAh battery.

[Read: Panasonic launches security-focused Eluga Mark with fingerprint scanner, rich looks for Rs 11,990]

TCL Pride T500L

TCL upped the ante on the mobile security by integrating its advanced biometric technology in its Pride T500L. Moving up from the fingerprint scanning tech, Iris scanner in Pride T500L captures the detailed nerve pattern on the iris to unlock the phone. With this latest tech, TCL Pride T500L costs just Rs 10,499 and available exclusively on Snapdeal.

TCS Pride T500L is also big on other specs such as it features a 5-inch HD screen, 2.5GHz octa-core processor, 2GB RAM, 16GB expandable storage, 13MP primary camera with LED flash, 8MP front snapper and 3,050mAh battery.

[Read: TCL Pride T500L with Iris Retina scanner security launched in India; price, specs]