Apple is indeed dropping a smaller iPhone, taking to its event in Cupertino today to unveil the brand new iPhone SE. Thankfully, the 5S-inspired design doesn’t skimp on the details. Offering fans a smaller, 4-inch alternative to the bigger 6S and 6S Plus, the SE is just as powerful as its predecessors — thanks to an A9 chip and M9 motion processor — and even boasts a 12MP iSight camera (with Focus Pixels and True Tone flash), Retina flash for its forward-facing camera, 4K video capabilities, high speed 802.11ac Wi-Fi (as well as Wi-Fi calling), 50% faster LTE, Apple Pay and Touch ID.The iPhone SE is $399 USD for 16GB or $499 USD for 64GB and launches March 31.