If you preorder through Sprint, you could be eligible (depending on your credit) for half off of a lease, meaning you'll pay just $15 per month for 18 months. If you want to keep the phone at the end of your lease, you'll have to pay the remaining balance for the phone's full price -- $700. You can also make monthly installment payments on the $200 4K Essential 360 degree Camera over the course of a year. If you order from Essential, for a limited time you can get both the phone and camera for $749.

Essential Phone is made with titanium and ceramic in order to prevent dings and dents, has an edge-to-edge display and comes with 128GB of memory. There's no obvious branding on the phone and Essential says it will provide Android updates for two years and security updates for three. The company also plans to release new accessories for the phone regularly.

The Black Moon version of the phone is available for order now through Essential.com, Sprint and Best Buy while the Pure White color will be available sometime in the future.