The 17e comes in three color options: black, white, and a pastel pink. It still includes a USB-C port, a notched display rather than a Dynamic Island, an Action Button, a 6.1-inch 60 Hz OLED display without ProMotion or always-on support, and a single 48 megapixel rear camera (which is still capable of taking 2x telephoto images by cropping a 24 MP chunk out of the middle of the image sensor).

The biggest problem with the iPhone 17e is still that it’s just $200 cheaper than the iPhone 17, which is an exceptionally strong version of Apple’s default phone. That $200 gets you a better main camera, a wide-angle lens, a slightly larger 6.3-inch display with ProMotion support and a Dynamic Island, and marginally faster graphics performance. But the 17e’s 256GB storage upgrade and the new chip do make it more appealing than the $699 iPhone 16, which also lacks a ProMotion display and only has 128GB of storage.

The new phone is part of a string of announcements that Apple is planning in the run-up to a “special experience” event on Wednesday morning. The company also announced a new iPad Air with an M4 chip today and is also widely expected to debut a new low-end iPad and a new MacBook that’s substantially cheaper than the MacBook Air.