The Galaxy A27 has been announced, and at $349.99 it’s $50 more than last year’s A26. This makes sense in the current economic climate, but a tough sell is that Samsung has also cut back on some key specs.

Compared to last year’s phone A27 There are lower-resolution 12-megapixel selfie and 5-megapixel ultra-wide cameras, worse IP64 waterproofing, and slightly thicker at 7.8mm. Other specs remain unchanged, such as 6GB of RAM and 128GB of storage, a 5,000mAh battery, a 6.7-inch 120Hz display, and a 50-megapixel rear camera. The phone has only one real upgrade, but it’s a welcome one: moving from the Exynos 1380 to Qualcomm’s Snapdragon 6 Gen 3 chipset.

Samsung isn’t entirely to blame here. Prices are rising across the industry, and budget phones are at risk of being hit particularly hard — nothing has even canceled the smartphone’s planned addition to its budget-friendly CMF line. Even Apple hiked prices today, though its iPhones are currently unaffected.

The Galaxy A27 will go on sale in the US from July 14, and only in black. International markets will also get blue and pink options, and an earlier release on July 3.