Apple has launched a new version of its lowest-priced iPhone that has a faster processor and can connect to 5G wireless networks. It is the first upgrade to Apple’s iPhone SE in nearly two years. The cost of the new device is $429, an increase over the SE’s last price of $399. The new launch came during an online company presentation held Tuesday. Apple says the SE’s processor, which the company calls A15 Bionic, powers an improved camera system on the new device. The camera upgrades aim to make it easier for users to capture higher quality pictures, especially when available light is low. In addition, the iPhone SE was built with the same, strong glass material used in its costliest models, Apple announced. And the device is equipped with tools to help save battery power. But the phone’s most appealing feature may be its ability to connect to 5G networks. 5G is the next generation in wireless communications technology. It promises faster upload and download speeds. The technology is designed to reduce communication delays and improve device performance, especially for activities like watching videos and playing games.