Motorola recently launched a 4G LTE version of its budget-friendly Moto E, and the handset is now available for purchase from Verizon Wireless.

Verizon customers interested in the new Moto E 4G LTE can now pick up the handset for $99.99 with no long-term contract, down from the regular $199.99 outright, according to Big Red's website.

The Moto E 4G LTE is not a high-end smartphone with top-notch specifications, but it does come with impressive specs and features for its price range and category.

As a reminder, the budget smartphone sports a 4.5-inch display with a resolution of 960 x 540 pixels and packs a 64-bit quad-core Qualcomm Snapdragon 410 processor under the hood, clocked at 1.2GHz paired with 1GB of RAM.

Other specs of the second-generation Moto E 4G LTE include 8GB of internal storage capacity, a microSD card slot for additional memory of up to 32GB, a 5-megapixel rear camera, and a VGA front shooter. The smartphone further packs a 2,390 mAh battery to keep things up and running and ships with Android 5.0 Lollipop on board out of the box.

The Moto E also borrows some neat Motorola-exclusive features from the flagship Moto X, including the ambient lock screen notifications courtesy of Moto Display, as well as the fast camera launch gesture by twisting your wrist twice. Motorola also promised to keep the Moto E (second-generation) 4G LTE up to date with future software updates, which is great news for a budget device.

The handset should last for up to 24 hours on a single charge, according to Motorola, and it also boasts a water-resistant coating to make it more durable.

The second-generation Moto E marks a notable upgrade compared to its predecessor, and the faster processor combined with LTE connectivity play a big role.

The $99.99 price tag of the Moto E 4G LTE on Verizon Prepaid is the same as the price of the smartphone on Sprint Prepaid, Boost Mobile, and Virgin Mobile. Motorola, meanwhile, is offering the handset for $149.99.

For more information regarding the new Moto E 4G LTE, head over to Verizon's website here, find the user guide (PDF) on Motorola's website at this link, or check out the video below.