IT'S OFFICIAL: Here's the new small iPhone SE
It's going to cost $399 without a contract, or free with a two-year contract - significantly less expensive than other new iPhones were when they first launched.
You can preorder it on March 24, and it will go on sale in stores on March 31.
The iPhone SE has a similar body to the iPhone 5S, but with updated components. "It's got advancements that will make it the most powerful 4-inch phone ever," Greg Joswiak, head of iPhone marketing said.
Apple is hoping that the iPhone SE can tap into an underappreciated market - people who like small phones - and can help turn around sluggish iPhone sales trends by accelerating existing users' upgrade cycles.
Data show that one third of iPhone users are still using a 4-inch iPhone, and analysts have predicted that Apple could sell as many as 15 million iPhone SE units in its first year.