Highlights: Apple launches 4-inch iPhone SE, smaller iPad Pro

Apple Inc is expected to launch a smaller, cheaper iPhone on Monday aimed at emerging markets and possibly China, the world’s biggest buyer of smartphones, as it looks to reverse a decline in worldwide sales of its most important product.

Apple Vice President Greg Joswiak introduces the iPhone SE during an event at the Apple headquarters in Cupertino, California. (Reuters Photo)

Apple Inc on Monday unveiled a smaller, cheaper iPhone aimed at new buyers, especially in emerging markets and possibly China, the world's biggest buyer of smartphones, 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 a price of $399. It represents Apple's second bid for the crowded mid-tier market after an unsuccessful foray three years ago.

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