The Galaxy Note 20 lineup features brand new colors for Cyber Monday. But more importantly, Samsung's best phone is now available at a dramatically lower price.

Right now, the Galaxy Note 20 Ultra is $599, a whopping $700 off the regular $1,299. Of course, there are a few conditions that must be met in order to achieve such a price cut.

Some of the discount is automatic, as Samsung will take $150 off the Galaxy Note 20 price. However, an additional $550 can be saved by trading in an eligible device. For example, the trade-in value of the Galaxy Note 10 is $460. (If the screen is cracked, the trade-in value will be lower.)

In addition to the discount on the phone, a $100 credit on eligible accessories is also available.

This discount applies to both Galaxy Note 20s, which can be purchased for $299 if the full trade-in value is applied. However, it is the deal with the Galaxy Note 20 Ultra that caught our eye. That's because this phone has a display with a dynamic 120Hz refresh rate and the best camera we've seen on a Samsung phone. And with the price cut, you can get the Note 20 Ultra for about what you would normally pay for a mid-range Samsung smartphone.

But you'll need to act fast. According to the countdown timer on Samsung's website, the discount will end as soon as Cyber Monday ends.

If you're buying a Galaxy Note model, you can choose a new color option: the Note 20 Ultra now comes in Mystic White in addition to the existing Mystic Bronze and Mystic Black; Note 20 buyers, choose the new Mystic Red color.

Cyber Monday is coming to an end, but we are still following the best Cyber Monday deals, including the top smartphone sales for Cyber Monday.