Last week Apple released a new iPhone called the iPhone SE. It is a four inch iPhone. Before people get the wrong idea, it’s important to know that this is not a re-badged iPhone 5s dating back to Sept 2013. It maintains the same screen dimensions but the the similarities stop right there. Effective immediately, the 5s no longer sold as a new model. Apple realized that they had a market for the 4 inch size. Apparently, they sold 30 million 4 inch iPhones last year. Their top management described this statistic as a small but significant portion of their overall iPhone sales.

Keep in mind that the other two current models 6s and 6s Plus are 4.7 inch and 5.5 inches, respectively.

Some people are big fans of the 4 inch size, which was the standard on the 2012 and 2013 iPhones. Others may find that it fits into their pants pocked more easily. With the exception of the screen size, there is no compromise in performance. The SE contains the same innards as its larger sibling, the iPhone 6s. Arguably, one of its best features is the price. It’s $400, full cost!! WOW.

For those of you who can handle or desire the 4 inch screen, you may just want to buy it outright. Your carrier, AT&T and Verizon will allow you to finance the phone for 24 interest free payments. I did the math and that comes out to $16.xx a month on top of your service. Apple also offers a phone financing plan but it is not a 0% proposition. For those of you who haven’t bought a new phone in a while, the days of buying a phone at a reduce price on a "2 year contract are over." You can buy your iPhone at full cost or finance it. Typically, the monthly service plans cost less. The phone’s cost is considered a separate transaction.