Apple just held its first event of 2022, dubbed “Peek Performance” and announced the new and improved third-generation iPhone SE 5G. With some much-needed updates, this version is now one of the best budget-friendly smartphones on the market.

Note: The iPhone SE 5G debuted during Apple’s Peek Performance event alongside the M1 iPad Air, the M1 Ultra processor, Apple’s new Mac Studio computer, and the Studio Display.
You can check out all the products announced at Peek Performance in our detailed roundup.

The new smartphone looks similar to the now-previous version, keeping the physical Home button for navigation and Touch ID for secure logins and online purchase, as well as a single camera at the rear. It also sports a 4.7-inch retina display, an IP67 rating for protection against dust and water, and a durable design featuring aerospace-grade aluminum and ultra-tough glass on the front and back of the phone—the same glass that’s on the rear of the iPhone 13.

Apple also supercharged the phone’s internals for the first time since 2020, and this is the truly exciting part. The new iPhone SE rocks Apple’s impressive A15 Bionic chip, same as in its more premium models. It’s faster than the iPhone 8 and every other older model. This will make it easier for you to enjoy faster app launching and scrolling, and it’ll be more than capable of handling intense workloads and demanding tasks.

The phone’s rear 12MP camera, alongside the phone’s A15 Bionic chip, puts powerful and advanced computational photography at your fingertips. You’ll see more detail, bolder and more accurate colors, and reduced noise. It also has Smart HDR4, Photographic Styles, Deep Fusion, and improved skin-tone detection, which will improve the way colors look and reduce unwanted noise, and ensure your photos always look great,  no matter the time of day or lighting you’re in.

Though no specifics were mentioned, Apple also mentioned that battery life is improved for this phone, thanks to the latest-generation battery chemistry, a more compact form factor, and “tight integration” with iOS 15. It’s compatible with Qi-certified chargers for wireless charging, and even supports fast charging for when you’re in a hurry.

Apple added in 5G support, for faster uploads and downloads, lower latency, smoother online gaming, HD Facetime calls, and better experiences no matter where you go. It also said the phone will receive the latest iOS updates for years to come. The model looks to be a great choice for those looking to upgrade their old iPhone SE while keeping to a budget or for anyone wanting to step into the Apple ecosystem.

Pricing for the new iPhone SE starts at $429, and it comes in three colors: midnight, starlight, and (PRODUCT)RED. You can also select how much storage you want, with options ranging from 64-256GB. It’s available starting March 18, and you can place your pre-order for it on Apple’s website or in Apple’s stores as early as Friday, March 11.

With the powerful A15 chip, the speed of 5G, improved durability, and a low price, this might just be your new phone.