iPhone SE debuts as "most powerful 4-inch phone"

Apple today unveiled the iPhone SE, a new phone the size of the iPhone 5 with most of the power and capabilities of an iPhone 6S.

The iPhone SE, which doesn't include 3D touch, goes on sale March 31 for $399 for the 16 GB or $499 for the 64 GB version.

The 3D Touch feature of the 6S adds the ability to lightly touch on an app for a peek or press down harder for a "pop," essentially adding another layer of interface to the touch screen.

The new phone does have the same 64-bit A9 processor and M9 motion coprocessor as the 6S. It also has the same 12-megapixel camera and Siri support. The phone comes in silver, gold, space grey and rose gold.

The new iPhone was announced during a morning press conference held at Apple's One Infinite Loop headquarters.

Apple CEO Tim Cook took the opportunity to quickly address the ongoing battle the company is in with the FBI over privacy and the iPhone.

Cook noted that the company has more than one billion devices in use around the world and that it's hitting its 40-year anniversary next month.

"We have a responsibility to help you protect your data," he said. "We owe it to our customers and we owe it to our country.

"This is an issue that impacts all of us and we will not shrink from this responsibility."

Developing