Yes, the 4-inch iPhone SE supports most of Apple's new technologies and features, including Live Photos, Apple Pay and more. It does not support 3D Touch, but it does include most of the same hardware found on the iPhone 6s and 6s Plus models. This includes a 12MP iSight camera with 4K video, Touch ID, and A9 processor. It also supports all the new features in iOS 9.3, such as Night Shift mode.
Does the iPhone SE support Live Photos?