Apple has announced its most affordable iPhone, the iPhone SE. Starting at just $399, the device comes in three colors of black, white, and red, and is currently available for pre-order through Apple and select retailers. It will ship April 24.

This particular iPhone serves as the second generation of the iPhone SE. It features a 4.7-inch Retina HD display and Touch ID while being powered by Apple's A13 Bionic, which is the fastest chip in a smartphone. According to Apple, the phone also boasts the best single-camera system to date in an iPhone.

The iPhone SE is made from aerospace-grade aluminum and durable glass. It is water-resistant up to one meter for 30 minutes and also dust-resistant. The home button on the phone is designed with sapphire crystal, featuring a steel ring that detects the user’s fingerprint for Touch ID.

The single-camera system includes a 12-megapixel f/1.8 aperture wide camera with Portrait mode, six Portrait Lighting effects, and Depth Control. Smart HDR then relights objects in a frame to offer more natural-looking images. The rear camera is capable of capturing video at 4K up to 60fps, while QuickTake video on the front and rear cameras allow you to record video without leaving Photo mode.

You can charge the iPhone SE wirelessly with Qi-certified chargers. Fast-charging provides the phone with up to a 50 percent charge in just 30 minutes. Users can also take advantage of Dual SIM with eSIM to have two separate phone numbers on the same device.

Apple's iPhone SE is available in 64GB, 128GB, and 256GB versions. You can learn more about the cheap new iPhone here.