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Why the small iPhone is a big deal

Apple today announced the 4-inch iPhone SE, which is essentially an iPhone 5S with 6S specs and a new low price of $399. For many people, that alone will be sufficient reason to be excited, but the iPhone SE has significance that stretches far beyond its modest dimensions. This phone will lead Apple's charge into the fastest-growing markets of India and China, realign the company's strategy for how it sells its flagship product, and also create a unique new proposition that Android has no direct answer to.

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