Apple Inc (AAPL.O) on Monday unveiled a smaller, cheaper iPhone aimed at new buyers, especially in emerging markets and China, as the technology company looks to reverse a decline in worldwide sales of its most important product.The new device, called the iPhone SE, has a 4-inch (10-cm) screen and starts at $399. It represents Apple's second bid for the crowded mid-tier market after an unsuccessful foray three years ago. Orders start on Thursday, and the phone will be available next week.The $399 starting price is well below the $649 for the current top iPhone model without a contract, which is beyond the reach of many. The new phone, with Apple's vaunted A9 chip, is much faster than Apple's previous attempt at an entry-level phone, launched in 2013. It also runs Apple Pay and comes in the wildly popular rose gold color.Analysts had said before the event that a phone priced below $450 could be competitive with other mid-tier rivals, mostly running Google's Android system, and make ...

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