Essential Phone price slashed to $499

The Essential Phone just got a whole lot better.

Yes, it's still the same phone, but the price just dropped by a whopping $200 -- from $699 to $499 -- which puts the Essential Phone in a completely different category.

Android creator, ex-Googler Andy Rubin made big waves in the smartphone market when he announced the Essential Phone in May, a super-slick, powerful, modular phone whose near bezel-less screen wraps around the selfie camera.

But the Essential Phone, as interesting as it may be, was plagued with various issues right from the start. Its launch was delayed, and when it finally started arriving into customers' hands, many were disappointed with its camera, which was simply not good enough for a phone that costs almost as much as the Samsung Galaxy S8.

Now, however, the Essential Phone costs five hundred bucks, and those who already purchased it get a $200 "friends & family code" which can be used towards purchasing the Essential 360 Camera or another Essential Phone.

The likely result for such a large price change mere months after release is poor sales. According to Essential, the company simply decided to make the phone more affordable instead of spending cash on marketing.

"At Essential, one of our driving principles is that premium craftsmanship and the latest technologies shouldn’t be for the few. We could have created a massive TV campaign to capture your attention, but we think making it easier for people to get their hands on our first products is a better way to get to know us," Niccolo de Masi, president of Essential, wrote in a blog post Friday.

At this price, the Essential Phone is a steal -- it has a unique design, a titanium body and top-notch specs. Plus, a lot of its camera issues have been fixed in several software updates, and Essential promises more upgrades down the line.