Microsoft on Tuesday announced its latest Surface computer, the Surface 3. It’s a bit less powerful than the Surface Pro 3 but comes in at a much more affordable price point.

The Surface 3 is powered by an Intel Atom x7 processor and features a 10.8-inch display (smaller than the 12-inch Surface Pro 3), either 64GB or 128GB of storage, support for microSD cards, an integrated kickstand, the Surface pen, a mini DisplayPort, a USB 3.0 port, a 3.5MP front-facing camera, an 8-megapixel rear-facing camera. Like the Surface Pro 3, it serves initially as a tablet but can be combined with a snap-on keyboard to serve as a laptop, too.

The Surface 3 will start at $499 — that includes a free year of Office 365 and 1TB of OneDrive storage — and can be pre-ordered today. It will be available directly from Microsoft beginning on May 5 in the United States and will eventually launch in a total of 26 markets by May 7.