Apple today announced the iPhone SE, a new 4-inch iPhone that boasts many of the same features as the company’s larger iPhone 6s.

The iPhone SE features the A9 chip, the same embedded co-processor as Apple’s flagship 4.7-inch phone, making it double the speed of the iPhone 5s, which was Apple’s last 4-inch handset. The new phone also packs the same graphics capabilities of the larger iPhone 6s, making it three times faster than the iPhone 5s.

iPhone SE
The iPhone SE features Apple’s latest 12-megapixel camera. Thanks to the improved camera, 63-megapixel panoramas can be captured and 4K video at 30 FPS is supported. The new handset also features a 5-megapixel front-facing FaceTime camera with a True Tone Retina Flash feature that lights up the display of the iPhone significantly more than usual, just before a photo is captured.

The iPhone SE also comes with Apple Pay, new microphones, Live Photos support, always-on “Hey Siri” voice activation, faster LTE and Wi-Fi performance, and improved battery life.

The iPhone will be available to order from March 24 and begin shipping on March 31. Prices begin at $399 for the 16GB version, while the 64GB version will cost $499. A two-year contract is free for the 16GB version, while financing starts at $17/month for the same model. The new iPhone will be available in over 100 countries by the end of May.

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