Apple unveils new, cheaper iPhone

CUPERTINO, Calif. -- A new iPhone arrived on Wednesday, April 15 without Apple's usual fanfare.

The new, second-generation iPhone SE carries the same name as the original iPhone SE that launched in 2016. It costs $399 and pre-orders begin on Friday, April 17; it arrives by April 24.

The iPhone SE has many of the same internal components as the iPhone 11 and iPhone 11 Pro, but the inside is 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 processor. That helps Apple make a more affordable device that is appealing to consumers who don't want to spend more on Apple's other phones.