We FINALLY know what the new iPhone looks like

Apple finally unveiled the new iPhone at the 2016 Keynote in Cupertino, and it’s smaller than we expected. The four-inch iPhone SE (pronounced “essee”) is the same size as the 5S, but it’s an upgrade. It’s aimed at customers who haven’t yet upgraded to the bigger iPhone 6 models, but would like to have a phone that runs the new iOS 9.4 and has the fastest processor available. So the iPhone SE is basically a four-inch shrunken down Apple 6S.

At today’s Apple product launch event, Apple VP Greg Joswiak made a case for the new phone. “Some people just like smaller phones,” he said. Like the iPhone 6, the iPhone SE can also capture live photos, and features the warm two-tone flash on a 12K megapixel camera.

And the best part? The iPhone SE will be a more affordable version of the bigger phone, which retails for $399 for the 16GB phone (around $150 less than the 6S) and $499 for the 64GB phone—or $17/month for installment plans. And you won’t even have to wait forever to get your hands on one. It’s available for pre-order on March 24 and will ship on March 31.