Apple on Wednesday, April 15 unveiled the second-generation iPhone SE, launching the $400 device or "the most affordable iPhone".

The new smartphone features a 4.7-inch Retina HD display, paired with Touch ID for industry-leading security and is powered by the Apple-designed A13 Bionic, the fastest chip in a smartphone, to handle the most demanding tasks, the company said in a blog post.

iPhone SE also features the best single-camera system ever in an iPhone, Apple said.

It comes in three colors — black, white and (PRODUCT)RED — and will be available for pre-order beginning Friday, April 17, starting at $399 (U.S.).

The iPhone SE features an aerospace-grade aluminum and durable glass design with an all-black front. It is water- and dust-resistant with an IP67 rating for water resistance up to 1 meter for 30 minutes.

The phone also features the familiar Home button.