Two months after the Essential Phone launched, it’s gotten a significant price drop.

Essential announced today that it’s cutting the price of its Essential Phone to $499. That’s a $200 discount from its original price, and it’s effective on the Essential store right now. Best Buy and Sprint are still asking $699 for the Essential Phone, but that’ll likely change soon.

In an effort to make good with those folks that’ve already ponied up $699 for the Essential Phone, Essential is offering a $200 friends and family code to those customers. This code can be used in Essential’s store for another Essential Phone or for an Essential 360 Camera.

If you bought an Essential Phone for $699, you can register to get your code by filling out this form.

While the Essential Phone is a high-end, flagship device, its original price tag put it toe-to-toe with phones from more established competition like Apple and Samsung. This price cut makes the Essential Phone a much more compelling option for folks in the market for an unlocked smartphone and should help to move a few more units.

Now that it’s $200 cheaper, are you interested in buying the Essential Phone?