Essential has an offer that’s honestly very hard to refuse: The price of the Essential Phone (PH-1, going by technical model number), is now $200 cheaper, so $499 off-contract and unlocked. That’s an amazing price for their debut smartphone, which remains my favorite in terms of straight up industrial design (and it has one of the best color-tuned displays in devices right now in my opinion).

The Essential Phone went on sale just a few months ago, but the company believes that as a young startup just getting out therein a market where incumbents like Apple and Samsung basically take up all the available space, there’s a lot of value in word of mouth and perceived value. That’s why it’s making this price change, Essential tells me – though you have to also wonder whether the company’s not seeing the numbers it was hoping for in terms of initial sales, which is what some early third-party sales estimates have suggested.

Regardless of the reason, the price drop makes Essential arguably the best value smartphone on the market, and definitely the best Android device in that range. It’s one major failing has been its camera, which launched as a slow and buggy feature compared to most out there, but the subsequent camera software updates have improved its speed and reliability a lot, and more updates are promised in the future, too.

Lest Essential’s earliest customers feel slighted, it has a deal for early buyers, too – they’ll receive a $200 ‘friends and family’ credit they can use to further discount (valid through December 15, 2017) a device for a loved one (or another for themselves, if they maybe also want the just-released white Essential Phone, for instance), or to buy the 360-camera attachment. Customers will be able to sign up to redeem the $200 credit on the Essential page, using their phone’s IMEI and serial numbers, along with the email address they used to purchase.

In a time when the price of flagship smartphones in both iOS and Android worlds are ballooning, this is a very welcome nod to affordability. Without question, if you want an amazing phone at a killer price, the now $499 Essential Phone is the one to get.

Also, this is U.S. only for now – details on a program for Canadian device followers will follow, per Essential.