Apple hopes to get bigger slice of market with smaller iPhone

Apple Inc launched a smaller-screen iPhone on Tuesday Beijing time, hoping its low price tag and top-performing features can reinvigorate sales in key markets such as China and India.

This is the US company's latest effort to enter the crowded mid-tier market where its Chinese rivals are steadily expanding their presence with affordable high-quality gadgets.

The iPhone SE, equipped with a four-inch screen, is essentially a smaller version of the iPhone 6S. Starting at $399, the new phone has full support for Apple Pay and the Siri voice-enabled assistant. It is powered by the A9 processor that also runs the larger iPhone 6S.