Rumors that Apple would release a smaller phone proved true, Monday, as the California-based software firm unveiled the iPhone SE, which boasts a four-inch retina display.

The iPhone SE has the same 64-bit A9 chip offered in iPhone 6s and iPhone 6s Plus for fast speeds, longer battery life, faster wireless, a 12-megapixel iSight camera featuring Live Photos and 4K video, and Touch ID with Apple Pay.

“iPhone SE is an exciting new idea — we started with a beloved, iconic design and reinvented it from the inside out. The result is the most beautiful and powerful phone with a four-inch display in the world,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “iPhone SE is packed with a stunning four-inch Retina display, advanced 64-bit A9 chip with M9 motion co-processor, longer battery life, 12-megapixel iSight camera with True Tone flash, Live Photos, 4K video, faster LTE and Wi-Fi, and Touch ID with Apple Pay. Everyone who wants a smaller phone is going to love iPhone SE.”

iPhone SE takes a beloved iPhone design and reinvents it from the inside out, giving customers a powerful, full-featured iPhone no matter which model they choose. The 64-bit A9 chip, introduced in iPhone 6s and iPhone 6s Plus, offers iPhone SE customers two times faster CPU and three times faster GPU performance compared to iPhone 5s, all with gains in energy efficiency for improved battery life.

M9, Apple’s next-generation motion coprocessor, is integrated into A9 allowing more features to run all the time at lower power, including “Hey Siri” without having to pick up your iPhone, and a range of fitness tracking capabilities like measuring your steps and distance. New iPhone SE users can browse, download and stream content even faster with Wi-Fi up to three times and LTE up to 50 percent faster than iPhone 5s. iPhone SE also includes more LTE bands for better worldwide roaming and supports Voice over LTE and Wi-Fi calling for high-quality wideband calls.

With an easy-to-use interface, amazing features, and security at its core, iOS 9 is the foundation of iPhone SE and brings powerful built-in apps like Messages, FaceTime, Photos, Music and Maps to iPhone users. iOS 9 also brings more intelligence to iPhone SE with proactive assistance, powerful search, improved Siri features and a new Night Shift feature that uses your iPhone SE’s clock and geolocation to automatically adjust the colors in the display to the warmer end of the spectrum after dark and may even help you get a better night’s sleep.

All of these innovations are packed into a light and compact phone designed to fit comfortably in your hand, crafted from bead-blasted aluminum for a satin-like finish, refined matte-chamfered edges, a new color-matched stainless steel inset Apple logo and a brilliant four-inch Retina display.

iPhone SE has an advanced 12-megapixel iSight camera featuring Focus Pixel technology for fast focusing, an Apple-designed image signal processor, advanced noise reduction, third-generation local tone mapping and better face detection, all resulting in sharper, more detailed photos like the ones shot on iPhone 6s.

With Live Photos on iPhone SE, customers can go beyond snapshots to capture moments in motion and relive unforgettable memories with sound. Live Photos are beautiful 12-megapixel photos that, with just a touch, reveal the moments immediately before and after the shot was taken, so users can enjoy a living memory rather than an instant frozen in time.

The new iPhone SE will be available in space gray, silver, gold and rose gold metallic finishes in 16GB and 64GB models starting at $399 (US) from Apple’s retail stores, Apple.com, Apple Authorized Resellers and select carriers.