HP announced a brand new convertible device model, the Pavilion x360, that features a low price and a Lenovo Yoga-style design. This model adopts a 360 degree hinge, that allows it to be used in 4 modes, a feat we’ve been hearing a lot lately.

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They’ve got a mode called “stand mode”, for when the keyboard is folded under and “tent mode”, for when the machine is upside down. Just like the Yoga, this model will disable the keyboard automatically when you flip the screen back into tablet mode. The price here is $500 for the HP Pavilion x360, while the Yoga midrangers go for $549 and up, so it’s a bargain.

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The lower price also means lesser specs, including a Pentium series Intel Bay Trail unit, a 500 GB HDD and not a SSD, plus a 1366 x 768 pixel display. At least the screen is an IPS with great view angles and since this is a HP we’ve got Beats Audio tech. Specs also include three USB ports and a full sized HDMI port.

The product ships this week, on February 26th in a bright red version.