With less than 24 hours away from the release of the Motorola Droid, Verizon introduced the HTC Droid Eris which will also be released tomorrow, November 6 through the Verizon network.

The Droid Eris - manufactured by Taiwan company HTC - will cost $99 with a two-year contract after a $100 mail in rebate, making it the most affordable Android phone currently available.

The Motorola Droid is double the price. It will retail at $199 with a two-year contract and a mail-in rebate.

Below are the key features of the HTC Droid ERIS:

• Qualcomm MSM 7600 528MHz processor
• CDMA/EV-DO Rev A. support
• 3.2 inch 320×480 HVGA capacitive touch screen and trackball interface
• 5.0 megapixel auto focus camera
• Expandable memory with pre-installed 8 GB microSD card
• Bluetooth, Wi-Fi and 3.5 mm headset connectivity
• Integrated GPS and a digital compass with a sensor that enables the phone to know what direction it is facing

Watch a video below of the HTC Droid ERIS: