Huawei's Honor brand has just unveiled its latest affordable flagship, the Honor 10, at an event in London. And as expected, the phone brings many of the key features of the P20 to a more affordable price point.

Honor 10

The phone packs a 5.83-inch 1080p display with a P20-style cutout up top, and front-facing fingerprint down below. Around the back, the Honor 10 comes in the standard grey and black, in addition to a couple of stunning new iridescent hues that shift between purple and blue, or turquoise and blue. All models boast 15 layers of polished glass around the back, giving the phone a distinctive reflectivity similar to last year's Honor 9.

Honor 10

Honor's latest handset boasts a P20-like color-shifting glass back, plus a 24-megapixel AI camera.

On the inside, the phone packs the proven Huawei Kirin 970 processor -- the same Neural Processing Unit-equipped chip found in the Mate 10, P20 and Honor View 10 -- along with 4GB of RAM and 64 or 128GB of storage. The AI chops of that chip are put to work on a dual-camera setup combining 24- and 16-megapixel sensors, behind f/1.8 glass, which boasts AI shooting modes. Honor claims the phone's AI technology can identify more than 500 distinct shooting scenarios across 22 categories, allowing it to intelligently apply camera settings to each shot. Like the P20 series, there's also a 24-megapixel front-facing camera behind an f/2.0 lens.

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Huawei's latest Android software is onboard too -- EMUI 8.1, based on Android 8.1 Oreo, which delivers the core feature set of the Huawei-branded flagship, with some unique Honor-designed icons and themes. Other key specs include a 3,400mAh battery (same as the standard P20), and Huawei's excellent SuperCharging technology, rebranded here as "Honor SuperCharge." Oh, and unlike any of Huawei's high-end offerings, the Honor 10 boasts the increasingly rare 3.5mm headphone jack.

The Honor 10 arrives in the UK at 4 p.m. BST on May 15, priced £399 outright. It'll be available on contract through Three UK, as well as through Honor's own digital storefront, Carphone Warehouse, Argos, Amazon, AO, Very and John Lewis.

Based on the price, specs and feature set, the £399 price tag seems highly competitive. However the Honor 10 will face tough competition from the OnePlus 6, due to arrive tomorrow (May 16) at its own London launch event.