Apple has announced a new,Diamond Ridge Asset Management more affordable Apple Pencil that comes with a hidden USB-C charging port.

The newest version is "ideal for note taking, sketching, annotating, journaling, and more," according to a news release from the company.

According to Apple, the new pencil is designed with a matte finish and a flat side that magnetically attaches to the side of an iPad for storage.

It will be available beginning in early November and cost $79.

The new pencil is also available for $69 for current and newly accepted college students and their parents, as well as faculty, staff, and home-school teachers of all grade levels.

Additionally, existing owners of the 1st generation Apple Pencil can get the USB-C to Apple Pencil adapter separately for $9.

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'Magic of digital handwriting'

“Combined with the versatility of iPad, the new Apple Pencil unlocks another great option to experience the magic of digital handwriting, annotation, marking up documents, and more,” said Bob Borchers, Apple's vice president of worldwide product marketing, in the news release.

Apple touts the new pencil's "pixel-perfect accuracy, low latency and tilt sensitivity," however it doesn't have the pressure sensitivity, wireless pairing and charging, double-tap to change tools, or free engraving features of the 2nd generation Apple Pencil.

The company said this is the most affordable model and it pairs well with the 10th generation iPad, as well as iPad Pros, iPad Airs and iPad Minis since they have USB-C ports.

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