If you’ve been hankering for a new iPhone that has all the power of the latest generations but fits in your hand like the old models, today is a good day for you.

Apple has just unveiled the long-awaited iPhone SE.

Design

The phone has a 4-inch display and the same general dimensions as the iPhone 5s. In fact, the iPhone SE looks almost identical in design to the iPhone 5s, including the chamfered, sharper edges of the device. The only difference is that those edges will be finished in matte, unlike the iPhone 5s.

The phone will come in space grey, silver, gold and rose gold.

That said, the iPhone SE has very different innards than the iPhone 5s.

Tech Specs

The new, smaller model will include an NFC chip for Apple Pay, alongside the much-faster A9 processor and M9 motion co-processor. This means that the phone will see speeds similar to the iPhone 6s, and will also be equipped with always-on “Hey Siri” functionality.

Apple also said that it has been able to reach LTE speeds that are 50 percent faster than previous generations.

Camera

The camera will also see upgrades, with a 12-megapixel sensor and the ability to capture 4K video. This is the same camera you’ve seen on the iPhone 6s and 6s Plus.

With that camera comes the ability to capture and view Live Photos, Apple’s GIF-style feature that captures a couple seconds of video before and after the picture is taken to result in a moving, video-like final product.

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Rumors suggested that the new iPhone wouldn’t have the front-facing flash capability we’ve seen on the iPhone 6s. That, however, is incorrect. Apple has included that same LED functionality in the SE, meaning you can take selfies in the right lighting conditions with the smaller model.

No 3D Touch

Sources told 9to5Mac that the reason behind this is that the front-facing flash requires the new display tech we’ve seen on the iPhone 6s, which brings us to 3D touch.

The flagship feature on the iPhone 6s and iPhone 6s Plus, which offers deeper interaction with various applications on the iPhone through hard taps and long taps, will not be present on the iPhone SE.

Software

iOS 9.2 comes out today, and will ship with the little iPhone SE. It includes Night Mode, which changes the coloring and brightness of the display to better suit your eyes in the evening/night and early in the morning. It will also include password-protected (TouchID) Notes, app suggestions in Health and more customized News.

CarPlay has also gotten integration from many more carmakers.

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Pricing and Availability

The iPhone SE will come in two models, 16GB and 64GB, priced at $399 and $499, respectively. If you’re using the iPhone Upgrade program, pricing starts at $17/month.

You can pick up the new iPhone starting March 31, and it will hit 100 countries by May.