The iconic Motorola Razr phone is back, this time with a screen that folds in half

Verizon on Thursday officially launched the Moto Razr. It’s a new twist on the popular Motorola Razr V3 that first launched in 2004 and quickly became one of the most popular flip phones of the early 2000s.

The latest version has a foldable screen, similar to the one introduced in Samsung’s Galaxy Fold last year, but maintains the popular clam-shell design of the original.

The phone is expensive compared with other devices without folding displays. It has a midrange Qualcomm processor instead of a more powerful one, runs a year-old version of Android and has a smaller battery than most phones.

Despite the underwhelming hardware, it costs $1,499.99. And it’s still unclear how well it will hold up. The first phone with a folding display, the Galaxy Fold, broke when it first launched. It has since been fixed.

If you like the design, you should know Samsung is expected to announce a new folding phone as early as Tuesday, during an event in San Francisco. It should have a similar design to the Moto Razr, but may be more powerful.

You may also have a hard time finding the new Razr if you didn’t preorder it. Verizon said it will be sold at flagship stores and that stock is limited. The carrier’s website says new orders can be expected to ship by March 3.