The new $700 iPhone 11 is almost identical to the $600 iPhone XR, but there are 10 major differences between the two (AAPL)

Apple announced the iPhone 11 on Tuesday — the successor to the popular iPhone XR that was released in 2018.

One of the most surprising things that Apple announced during its annual September event was the iPhone 11's pricing. It starts at $700, which is $50 cheaper than the iPhone XR's $750 starting price when it was first launched.

And the price of the iPhone XR is now $600, which makes it a pretty tempting option, even if it is a smartphone from 2018.

But then again, an extra $100 gets you the latest iPhone 11 that comes with some notable improvements over the iPhone XR, especially with the camera.

For anyone checking in to see if the iPhone 11 is worth an upgrade from the iPhone XR, that's a decision for you to make. Apple will let you trade-in your iPhone XR in good working condition for up to $370 if you want the iPhone 11, bringing the iPhone 11's price tag down to $330. You'll have to gauge whether the iPhone 11's extra features will be worth $330 on top of what you paid for the iPhone XR in 2018.

Here are the most important things to consider when choosing between the iPhone XR and the iPhone 11:

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