Update: Motorola has now launched the Moto E globally. The specifications are the same as below; the price for the unlocked device is $129 in the U.S. and £89 in the UK.

Although Motorola is slated to officially launch its budget smartphone, the Moto E, at a London event later today, the company already unveiled the device in India, AndroidCentral reports.

Motorola Moto E has a 4.3-inch screen with a 540x960 resolution, a 1.2GHz dual-core Qualcomm Snapdragon 320 processor, Adreno 302 GPU and 1GB of RAM.

See also: The First Android Wear Devices Are the Moto 360 and LG G Watch

The device also has 4GB of memory storage, expandable via a microSD memory card, a 1,980mAh battery and dual-SIM connectivity. Software-wise, it's all powered by Android 4.4 KitKat.

In the promo video below, Motorola places great emphasis on three features: interchangeable back covers, a water splash-resistant body, and the fact that the phone comes with Google's latest software, with a promise of timely updates.

We've seen reports that list slightly different specs — 720p instead of qHD screen resolution, for example — so we assume the device that we see in London might be slightly different from the one in India.

The device will be available in black and white for Rs. 6,999 ($120) in India on India's e-commerce store Flipkart.