Many have described iPhone SE as a retro-designed phone with some of the latest technology existing on the flagship iPhone 6s. "An iPhone 5s with a heart of iPhone 6s," some joked online after the launch of the device.

We shot an un-boxing video in time lapse mode by iPhone 6, to give you a little taste of the new gadget. Of course, the new 9.7-inch iPad Pro also appears on the camera.

Media coverage shows that some are worried about the market potential while others believe that the new phone will become an efficient iOS shifter for Android phone users.

"In previous years, special meetings will be held to discuss marketing, sales and stocking with distributors, but this time things seems to be bit quiet, no meetings have been held so far," according to Tencent technology channel, citing a director of one of the brand's distributors. He also pointed out that the report from foreign media claiming that the pre-order volume of Chinese market has reached 3.4 million is only a pre-order figure. The real performance will be seen on the actual sales volume.

According to reports, as of February, 1,333 models belonging to variety of brands were available in Chinese market. Screen sized at 5.1-inch to 5.5-inch have grabbed the most attention at 39 percent. The display size of 5.5-inch or larger enjoy 4.3-percent or more share. By comparison, only 3.8 percent of the attention went to 4-in or smaller-sized display phones.

Apple Vice President Greg Joswiak introduces the iPhone SE during an event at the Apple headquarters in Cupertino, California March 21, 2016.[Photo/Agencies]

According to consulting company Kantar Worldpanel ComTech, as of January, Apple's iOS continued to grow share in urban China, though the rate of that growth was the slowest since late 2014. Apple also remained the most popular brand, capturing 25 percent of smartphone sales.

"Looking at the three months individually, January was the weakest month for Apple in China as more price-sensitive consumers might have been waiting to see what promotions Chinese New Year would bring in early February," said Carolina Milanesi, chief of research at Kantar Worldpanel ComTech. "In the rest of the world, smartphone platform dynamics remained pretty stable period-over-period, with no surprises."

Tamsin Timpson, strategic insight director at Kantar Worldpanel ComTech Asia said: "In urban China, iOS share continued to grow year-over-year, albeit at a slower pace, as iPhone 6s, iPhone 6s Plus and iPhone 6 were the best-selling smartphones in the region." "Huawei continued its momentum and is closing the gap with its nearest competitor, Apple, capturing 24.3 percent of sales. Xiaomi, which announced its Mi 5 at the recent Mobile World Congress, maintained a distant third, as it dropped 10.2 percentage points over the same period in 2015."