Motorola announces the Moto E, another inexpensive phone with fine features

Motorola(s mmi) announced the Moto E, an Android(s goog) phone costing as little as $129 off contract, on Tuesday morning ahead of an announcement event in New York City that Gigaom will be attending. This is the third phone in the Moto line and the second aimed at the low-cost international market, following the premium Moto X and the similarly priced Moto G.

According the to press release, the phone will include several features normally associated with more expensive phones — the latest version of Android, a 1.2 Ghz dual-core Snapdragon processor, and a 4.3-inch display with 256ppi, which likely means it is running at 540 x 960. In terms of the design, the phone shows a clear similarity to the Moto G and X. The phone isn’t a world-beater, but for the price it includes very nice components.

Motorola also announced an update to its an affordable phone already on the market, the Moto G. That handset gets a 4G LTE ratio and will cost $219 without contract, in addition to the LTE-less version which will remain on sale for $179.