Nokia 515 comes with 64 MB of RAM and runs on Nokia's Series 40 software. The device fosters 256MB internal storage which is expandable up to 32 GB through a microSD card. The handset features a 1200 mAh battery which delivers 33 days maximum standby time and 10.4 hours talk time while on 2G and 5.3 hours talk time on 3G usage.

In terms of connectivity, the phone fosters features such as 3.5 mm audio connector, EDGE, GPRS Bluetooth 3.0 and Micro-USB. Nokia 515 packs in a 5 MP rear camera with camera resolution of 2592 x 1944 pixels, LED flash and 3X digital zoom.

The Nokia 515 supports Micro-SIM instead of regular SIM. The handset comes with pre-loaded apps such as Facebook, Twitter, Nimbuzz and Mail for Exchange that allows users people to check work email and sync their calendars and contacts on-the-go.