With a decidedly classic design just like the iPhone 5 series, the new iPhone SE has been completely revamped inside in a huge way. For fans of smaller phones, the iPhone SE is just what you've been waiting for — a capable, modern smartphone in a compact, ultraportable, proven chassis.

What is it?

The iPhone SE is Apple's new low-end iPhone, priced starting at $399 and sporting a smaller 4-inch display. Externally, it looks largely indistinguishable from the iPhone 5s.

But don't let its looks or budget price fool you: The iPhone SE is actually more powerful than Apple's previous-generation iPhone 6, thanks to the inclusion of an A9 chip and 12-megapixel camera. This is a serious phone with a seriously aggressive price.

Between its price, performance and design, the iPhone SE frankly feels like it's better than we deserve.

Who's it for?

Lovers of smaller phones. People on a budget. People who want to keep their phone for the next two-plus years, and want something powerful enough to run the next few major iOS updates.

If any of those apply to you, the iPhone SE is a no-brainer of a purchase. In fact, for a certain segment of users, the iPhone SE will undoubtedly be seen as the best iPhone Apple has ever made. Most, however, are still likely to wait for the "iPhone 7."

Design

The real star of the show here is its classic design, complete with a 4-inch display, chamfered edges (but with a toned down matte finish rather than the dazzling polished edge of previous iPhone 5 models) and the same aluminum and glass back.

On the left are the same circular volume buttons and mute switch, and the lock button is once again up top. On the bottom is a 3.5-millimeter headphone jack, Lightning port, and grilles for the speaker and microphone.

While the design of the iPhone 6 and iPhone 6s are to be commended, there's something to be said for the flat edges and chamfered corners of the iPhone SE and its predecessors. For one, it works really well when being pinched between your fingers to shoot photos. It can also be stood up on its own on a table for things like watching a movie or participating in a FaceTime call.

And the slightly sharp edges allow your hand to better grip the phone. While the iPhone 6 design sometimes feels like too-large slippery bar of soap, the iPhone SE feels perfect and secure for one-handed use. You can easily reach all four corners with your thumb, without the need for another five fingers.

It wasn't broken, and Apple didn't try to fix it.

Performance and specs

Though it looks relatively tiny by modern smartphone standards, the iPhone SE boasts the same A9 processor as the iPhone 6s.

This isn't a situation like the 9.7- and 12.9-inch iPad Pro models, where each has a different A9X processor with different speeds and RAM allotments. Benchmarks show that both devices are running at essentially the same clock speed, and have the same 2 gigabytes of embedded RAM.

Real-life use backs this up: In a side-by-side comparison, we found no real difference between the performance of the iPhone SE and the iPhone 6s. Whether opening apps or closing them or scrolling, each was comparable to the other. It's the power of the iPhone 6s in a classic design.

The same can be said for the rear iSight camera: It's identical to the 12-megapixel shooter found on the iPhone 6s, and it also includes the Live Photos capability that was previously exclusive to the 6s series. The iPhone SE can even shoot 4K video, chalking up a number of ways it's actually a more capable phone than the 2014 iPhone 6.