In a nutshell: Apple unveiled an updated version of its entry-level iPhone SE on Tuesday, and it's largely everything we expected - except in the pricing department. The new model comes at a $30 premium over the second-gen variant, but adds a faster processor, improved battery life and 5G connectivity to the mix.

The new iPhone SE is powered by Apple's own A15 Bionic SoC, the same chip that drives the current iPhone 13 lineup. It features a 4.7-inch Retina HD display with thick top and bottom borders reminiscent of the iPhone 8, and retains the familiar Home button with Touch ID support.

The new SE also shares the same glass finish as the iPhone 13 family, and is splash-, water- and dust-resistant thanks to its IP67 rating. Apple has additionally baked in support for 5G connectivity, future-proofing the device for years to come.

A single 12-megapixel rear-facing camera with f/1.8 aperture handles most photography duties, and supports features like Smart HDR 4, Photographic Styles and Portrait mode.

Battery life is also said to be improved, thanks to the A15 Bionic chip, tight integration with iOS 15 and the latest-gen battery chemistry. It's compatible with Qi-certified chargers for wireless charging, and supports fast charging - up to a 50 percent charge in 30 minutes - with the optional 20W adapter.

The new iPhone SE will be able to pre-order on March 11, and ships a week later on March 18.

Pricing starts at $429.99 for a model with 64GB of storage, which represents a $30 premium over the previous iteration. Apple will also have 128GB and 256GB configurations available, all in your choice of blue, silver or red color schemes.