The iconic Moto Razr phone is set to make a comeback as Motorola's parent company Lenovo has collaborated with American telecommunications giant Verizon Communications to sell the device in the US, reported Wall Street Journal, quoting sources.

The price of the phone would be around $1,500 and will be launched in the US in February, according to the report.

The original Moto Razr was a thin flip phone and a status symbol for many before the advent of iPhones and Android flagships. The Motorola Razr V3 was the first phone released in the Razr series and was introduced in 2004.

This is not the first time Motorola is recalling the brand. In 2011, it released Droid Razr with Verizon.

Apart from Lenovo, Nokia has also released new versions of its once popular Nokia 3310 and Nokia 8110 devices earlier but with major software changes.