Apple announced a new version of the Apple Pencil on Tuesday that uses USB-C to charge and pair with compatible iPads. It costs $79 (£79, AU$139) and will be available in early November, alongside the $99 first-generation Apple Pencil and $129 second-generation Apple Pencil.

The new Apple Pencil is a more budget-friendly option for those who aren't willing to spend $99 or more on Apple's other models. While Apple claims it features the same low latency and tilt sensitivity as the second-generation Apple Pencil, that lower price means it doesn't have all of the $129 Apple Pencil's attributes. 

For example, it lacks the more expensive model's pressure sensitivity, wireless pairing and charging, and double-tap gesture for switching between tools. You also won't have the option for a free engraving to personalize the new Apple Pencil. However, it does support the hover gesture that lets you preview markups on the iPad Pro and can magnetically attach to compatible iPads, making it a step up from the first-generation Pencil in some ways. But it's worth noting that the first-gen Apple Pencil is pressure-sensitive, unlike the USB-C version. 

The new $79 Apple Pencil is compatible with iPad models that have a USB-C port, such as the 10th-generation iPad, the fourth- and fifth-generation iPad Air, the 11-inch iPad Pro, the sixth-gen iPad Mini and the third-gen 12.9-inch iPad Pro and later.

The announcement comes as Apple has embraced USB-C more broadly in its product lineup with the introduction of the iPhone 15 models, which use a USB-C port for charging instead of Apple's Lightning charger for the first time. It also falls in line with Apple's approach in recent years with its iPhone, iPad and Apple Watch product lineup, by offering budget, middle-tier and premium options for those products. The new Apple Pencil's arrival suggests it's doing the same for accessories.