The effect of prior microstructures on mechanical properties in low carbon steels were examined by comparing the behavior of cementite and mechanical properties of cryo-rolled and subsequently annealed steels. Prior microstructures consisted of ferrite + pearlite, banite or martensite. Steels, consisting of bainitic microstructure, exhibited the better combination of strength - ductility than steels with other prior microstructures, such as ferrite + pearlite and martensite.