After months of speculation, iphoneSE is finally a reality.

Apple introduced its inexpensive iPhone on Monday. It’s small-screen model that targets new customers in emerging markets and fans of smaller phones as the company tries to stimulate falling phone sales.

What makes iPhone SE a powerful smartphone is its A9 chipset.The chipset contains a 1.8GHz dual-core processor and is coupled with 2GB of RAM for smooth all-round performance.

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While iPhone SE comes preloaded with iOS 9.3, Apple is likely to give the smartphone at least three more iOS updates.This puts it at par with iPhone 6S in terms of OS updates and ahead of iPhone 6 and 5S.

Apple has used a 12MP iSight camera with dual-LED, two-tone flash on the back. The primary camera has top features like Focus Pixel autofocus, Auto HDR image capture, 4K video recording, and time lapse and slow-motion videos. It can also stitch together multiple images to create a panorama photo of 63MP resolution and capture 8MP photos while recording 4K videos.

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iPhone SE supports Live Photos, a feature introduced last year that allows users to turn short video clips of photos they click.

Though not exactly a feature of iPhone SE, it is a clincher for anyone who is looking for an affordable smartphone with top-end features. At $399 (approximately Rs 26,000), it is great smartphone for those who want a device with powerful features without burning a hole in their pockets.