Apple just announced a new, cheaper iPhone model, marking the first time it has launched a new phone without one of its glitzy in-person events as most of the country remains under lockdown due to the coronavirus pandemic.

The new, second-generation iPhone SE carries the same name as the original iPhone SE that launched in 2016. It costs $399, and preorders begin on Friday, and arrives by April 24.

The phone is launching at a difficult time for Apple as it faces an environment where millions have lost their jobs due to the health crisis and production delays that have hit its manufacturing facilities in China. In February, Apple warned on revenue guidance for its second quarter, citing weak demand in China due to the spread of coronavirus and lower iPhone supplies. But Apple seems confident it will be able to meet demand for its new iPhone SE.

The iPhone SE is compelling for Apple and consumers. It has many of the same internal components as the iPhone 11 and iPhone 11 Pro, but they are housed in a body that's practically identical to 2017's iPhone 8. Apple can reuse the older design of the iPhone 8 while improving other areas of the phone, like the screen and the processor. That helps Apple create a more affordable device that's appealing to consumers who don't want to spend more on Apple's other phones. (The iPhone 11 starts at $699 and the iPhone 11 Pro starts at $999.) It's the same strategy Apple used for the original iPhone SE, which had the same design as the iPhone 5.