Motorola has officially revealed the new Moto E, a 4.3-inch Android smartphone that's even cheaper than the successful Moto G, going on sale for just $130. The first handset from the company since it was sold to Lenovo, the The Moto E, has a high-resolution 4.3" display with with a resolution of 540x960 pixels at 256ppi, proetected by Corning Gorilla Glass and a water-resistant splash guard. It is pewred by a Qualcomm Snapdragon 200 dual core 1.2GHz Snapdragon processor, a 1980 mAh battery, runs Android 4.4.2, KitKat and includes colorful interchangeable backs -- called Motorola Shells -- providing more than 20 color and design combinations.

Other features include a 5MP rear-facing camera with Motorola’s streamlined camera interface; a microSD slot for up to 32GB of expandable memory and a built-in FM radio.

It’s priced starting at just $129 on Motorola.com with no contract. Moto E will also be available in more than 40 countries around the world over the next few weeks.

Motorola is also offering an upgraded version of the Moto G, featuring 4G LTE. Same features now on the fastest networks where available, for $219. The original Moto G continues to be available for $179 on Motorola.com without a contract and through local carriers in countries worldwide.