The Nokia Lumia 720 is the more refined of the two Windows Phone 8 devices, coming in a sleek 9mm body with interchangeable covers (you can add a cover for wireless charging), and a wide f/1.9 aperture camera that should perform admirably in low light. The Lumia 720 actually has the widest aperture ever in a smartphone camera. It is a mid-ranger, but one with almost no compromises - it has a 4.3-inch ClearBlack display and both a rear and front facing camera, and carries an off-contract price of 250 euro (around $325) off contract.
The Nokia Lumia 520 on the other hand is an extremely affordable device selling only for 140 euro (around $180) off contract. Nokia really ups the bar here with a 4-inch WVGA display and a 5-megapixel rear camera. Again, it uses the cheerful design with different colors we’ve gotten used to.source: Clove

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