Since iPhone 5C, Apple had nothing to offer to budget-oriented customers. Many think that the iPhone 5C was a miss, but the current market is demanding more affordable devices and therefore Apple has decided to give another shot with the completely new iPhone SE.

To begin with, the new iPhone SE has compact dimensions, featuring a 4-inch display. Regardless of rather small display, it packs powerful Apple A9 chipset with a dual-core 1.85 GHz Twister processor and PowerVR GT7600 six-core graphics, paired with the M9 motion co-processor, 1 GB of RAM and 16 GB of storage. There won't be a 32 GB version, but only 16 GB and 64 GB.

Another great thing about the phone is a 12 MP iSight shooter at the back, aided by a dual-LED flash that is capable of 4K video recording. The front side houses a 1.3 MP FaceTime unit. The handset also features a fingerprint scanner that supports Apple Pay. The rest of the specs include NFC, LTE up to 150 Mbps and there are also more LTE bands.

Apple iPhone SE will be available for pre-order on March 24, with sales starting on March 31, priced at $399 for the 16 GB model and $499 for the 64 GB. It will be available in four color options, including white, gold, black and rose gold.