Recap: Apple introduces the iPhone SE at $399

Small is big again for Apple.

On Monday, the tech giant unveiled the iPhone SE during an event at its headquarters in Cupertino, Calif. The smartphone starts at $399 for the 16 GB model, while a 64 GB model costs $499. Pre-orders for the SE go live on March 24, and the devices start shipping March 31.

Also shipping at the end of the month: a smaller iPad Pro with 9.7-inch touchscreen. It starts at $599 for a 32 GB version.

Apple goes retro with $399 iPhone SE, smaller iPad Pro

Scroll down for the full recap of Apple's iPhone event:

2:01 p.m.: Cook returns to wrap up the event. He says this is probably the last product event taking place at its town hall venue in Cupertino, which is where the iPod and App Store were revealed. Next year, they move to their new "spaceship" campus. And we're done! Thanks for joining us.

1:56 p.m.: The new iPad Pro will be available in multiple colors, including rose gold for the first time. The 32 GB iPad Pro starts at $599, up to $749 for 128 GB, and it goes up to 256 GB for the first time. Orders start March 24, and ship March 31.

1:55 p.m.: The camera is 12-megapixels and includes True Tone Flash and Live Photos. But, seriously, do you REALLY want to be one of those people shooting pics at an event on an iPad?

1:54 p.m.: Most of the Pro accessories including the SD Card Reader and USB Camera Adapter work on the smaller version.

1:53 p.m.: The smaller Pro includes an A9X processing chip with M9 coprocessor. It also supports "Hey Siri," the always-on feature of the voice assistant. A smart keyboard has been created to fit the smaller display. Curious if it works on older Air models. The Pencil will also support the new Pro.

1:52 p.m.: Schiller continues on the smaller Pro, discussing True Tone technology as well a four-speaker audio system. It puts up to twice as much sound as the iPad Air 2. Clearly, this is the step up from Apple's Air models.

1:50 p.m.Shots fired.

1:48 p.m.: More on the mini Pro: the display is 40% less reflective than the latest model of iPad Air 2. Schiller notes it's the best of any tablet. It's also 25% brighter than iPad Air 2.

1:47 p.m.: Schiller poking fun at PCs, noting there are 600 million PCs in use that are over 5 years old. Schiller's response: "That's sad."

1:45 p.m.: Phil Schiller on stage now to discuss iPad Pro, specifically a new model with 9.7-inch Retina Display. Basically, it's an iPad Air.

1:44 p.m.: The next update called iOS 9.3 will launch today.

1:40 p.m.: Moving on to iOS 9, where an update will introduce features such as a night time option that changes the hue of the screen to help users sleep. Also, users will be able to protect Notes with Touch ID.

1:38 p.m.: The iPhone SE will start at $399 for the 16 GB model, and $499 for the 64 GB. Pre-orders start March 24, and available March 31.

1:37 p.m.: The phone can capture 4K video, and include improved wireless capabilities. So far, checks all the boxes of most iPhone launches. The SE will also support Apple Pay, the company's mobile payment service.

1:35 p.m.: The SE will also feature better battery performance compared to the 5S. As far as camera, it will include a 12-megapixel iSight camera, True Tone Flash and panorama pics up to 63 megapixels.

1:33 p.m.: Confirmed: The new device is the iPhone SE. It will boast an A9 chip, which gives double the performance of the iPhone 5S and equal to the 6S.

1:32 p.m.: Here comes the new member of the iPhone family. Last year, Apple sold more than 30 million iPhones with a 4-inch touchscreen. The company says some users simply want smaller phones, or are new to the iPhone universe.

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1:30 p.m.: Cook says a new update will allow users to create folders for organizing apps, as well as dictation. Siri will also work on the App Store, so users can specifically ask for an app. The update launches today.

1:29 p.m.: Cook shifts to Apple TV, and the variety of apps for learning, ordering food and others. "And much more is coming," says Cook.

1:27 p.m.: Cook notes one-third of watch owners change their bands regularly. The company will introduce new bands, including a woven nylon option available in multiple colors, as well as Sport and Leather options. Cook says starting today, Apple Watch will start at $299.

1:26 p.m.: "Now, I'd like to talk products," says Cook. He starts with Apple Watch, discussing how much users love it. Nice humblebrag.

1:25 p.m.: Williams says CareKit will launch in April, and be open source, so any developers are free to use it. Now, Tim Cook returns to the stage.

1:23 p.m.: Williams says Apple is working with Texas Medical Center on an app for post-surgery care. It can monitor your temperature, or range of motion, or other data. It can be shared with family as well as physicians, who can "dynamically update" your care plan depending on progress.

1:21 p.m.: Williams says ResearchKit can also be used for patient care. He cites a study for Parkinson's disease, where researchers could study the impact of medicines on treating the disease. Williams unveils CareKit, development tools for apps aimed at patient care. The first app for Parkinson's will be used by leading medical institutions including Stanford Medicine and John's Hopkins.

1:19 p.m.: Another example is epilepsy. Researchers are looking into an app for Apple Watch using sensors that can help detect a seizure. Incredible.

1:17 p.m.: Cue the video to discuss the impact of ResearchKit. One example: diagnosing autism at earlier ages through studies and eventually a tool to screen for autism. The tool uses videos and the front-facing camera to study reactions.

1:15 p.m.: Cook returns to talk about the Health initiative. Apple chief operating officer Jeff Williams appears to talk more, starting with ResearchKit, software development tools released last year.

1:13 p.m.: Apple Renew is a program where users can bring their devices into a retail store or mail them directly to the company.

1:11 p.m.: Apple introducing research and development project for older iPhones that deconstructs the device and separates all parts and materials so they can be used again.

1:08 p.m.: Apple cites some of the unique methods to turn their operations renewable, including a giant solar panel in the Sichuan province of China. In Singapore, solar arrays are used on more than 800 rooftops.

1:05 p.m.: Cook addressing two initiatives to help leave the world in a better place, starting with the environment. First goal is to be 100% renewable in all global operations. Apple says they've hit 93% worldwide, including 100% in the U.S.

1:04 p.m.: And right away, Cook addresses the FBI battle over the encrypted iPhone. He says he's "deeply grateful" for the support in this case. "We believe strongly that we have a responsibility to help you protect your data and protect your privacy," says Cook. "We owe it to our customers, and we owe it to our country."

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1:03 p.m.: Cook tosses out a jaw-dropping number: 1 billion active Apple devices around the world. Staggering.

1:02 p.m.: Apple CEO Tim Cook takes the stage. He says Apple will celebrate the company's 40th birthday on April 1. It doesn't look a day over 36.

1:01 p.m. ET: And here we go. It begins with a video montage, titled "40 Years in 40 Seconds." Very Mac heavy at the start (no surprise) before moving on to the reason for today's event: the iPhone.

ORIGINAL STORY

Current models of the iPhone boast two screen sizes: 4.7 inches for the iPhone 6S and 5.5 inches for the iPhone 6S Plus. Analysts expect the latest iPhone model will have a blast-from-the-past 4-inch touchscreen, similar to the iPhone 5S.

Follow Apple's livestream here (it will only work on certain browsers, such as Safari or Microsoft Edge on Windows 10.)

However, the smartphone will also include several upgrades including a faster processor compared to the 5S and support for services including Apple Pay, analysts say.

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The launch of another iPhone model is viewed as an attempt to bolster sales of the flagship device, which CEO Tim Cook admitted in a recent earnings call were likely going to slide this year.

The smaller iPhone isn't the only device Apple will likely reveal Monday. Apple is reportedly planning to introduce a smaller iPad Pro — featuring a screen size similar to the iPad Air — and new watch bands for its Apple Watch.

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Follow USA TODAY reporters Jon Swartz and Marco Della Cava live from Cupertino, Calif. at @jswartz and @marcodellacava

Follow Brett Molina on Twitter: @brettmolina23.