Apple held a product event at One Infinite Loop in Cupertino, Calif., Monday, announcing a new iteration of the iPhone.

iPhone SE

Instead of announcing the iPhone 7 series, Apple CEO Tim Cook unveiled the iPhone SE. And, rather than going bigger with the new phone, Apple decided to go smaller, offering an iPhone roughly the size of the iPhone 5s – but with the capabilities that make it more similar to the iPhone 6s, reported TechCrunch.

Pronounced “essay,” the iPhone SE has a 4-inch display, chamfered edges and comes in space gray, silver, gold and rose gold. As for the inside, it will include an NFC chip for Apple Pay, an A9 processor and an M9 motion co-processor. The “Hey Siri” function will work on the iPhone SE, and the phone will have a camera with a 12-megapixel sensor and be able to capture 4K video, like the iPhone 6s. There will also be front-facing flash.

One of the 6s features that will not be available on the SE is 3D touch.

The iPhone SE will start at $399 for the 16GB model and $499 for the 64 GB model. The phone can be ordered starting on March 24 and will ship to consumers on March 31, when stores will also begin selling the new device.

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