HTC and Verizon officially announced the Rhyme on September 20 and, as promised, the phone is available starting today. It will cost $199.99 with a two-year contract or, should you choose to buy only the phone, $439.99.

The phone features a single-core 1GHz Qualcomm MSM8255 processor, 3.7 inch WVGA display, five-megapixel camera with auto-focus and LED flash, front-facing webcam, 3G HSDPA compatible radio, WiFi, GPS, and will run Android 2.3.4 Gingerbread with HTC’s Sense UI 3.5 on top of it.

If you want to get your phone from a third-party retailer (and in this case you should), Target will have an exclusive for three weeks. During that perios, they’ll offer a guaranteed “Trade and Save” throwing in $50 until October 8.