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Forget the iPhone X — the iPhone 7 is an incredible deal right now (AAPL)

Everyone will be talking about Apple's iPhone X this week — but the iPhone 7, already a first-class phone, will cost several hundred dollars less.

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I really love the iPhone 7.

Sure, the functionality is almost identical to its predecessor, the iPhone 6S. But with a few software tweaks and additions, plus that gorgeous all-metal design with the hidden antenna lines, the iPhone 7 might be my favorite iPhone design ever.

When it's off and sitting on a flat surface, the iPhone 7 looks like one seamless slab of glass. It looks incredibly sleek and smooth, especially in that sweet matte-black color.

On Tuesday, Apple unveiled three successors to the iPhone 7: the iPhone 8, the iPhone 8 Plus, and the iPhone X. Those three phones start at $699, $799, and $999, respectively.

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The new phones all have faster chips and wireless charging; the iPhone X has a slew of other features, like a facial-recognition system to unlock the phone called Face ID, and a stunning 5.8-inch edge-to-edge OLED display that Apple calls its "Super Retina Display."

But the iPhone doesn't need any of these new features. By all accounts, the iPhone X sounds like a stellar device, but the iPhone 7 is already a first-class phone. I don't wish it had wireless charging or a larger, more vibrant screen — those things don't feel like missing features.

So if you're considering this new iPhone lineup with all its bells and whistles, don't forget about the iPhone 7. Right now, the iPhone 7 costs $100 less than it did a year ago: the regular 7 starts at just $549, and the iPhone 7 Plus starts at $669. Again, the new iPhone 8 and 8 Plus cost $699 and $799 to start, respectively.

And to own the iPhone X, you'll be spending over $1,000; as nice as it is, it's almost double the price of the iPhone 7.

Just keep all of this in mind. Everyone is focused on the "newness" of the new iPhones, which look great and shiny and new, but don't sleep on the "old" iPhone 7, especially at that lower price point. You'd save several hundred dollars and still own one helluva device.

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