Motorola just announced it's bringing the Razr back in 2020

Millennials, this is not a drill. Motorola just announced it is bringing back its most iconic cellphone to date, the Razr.

The legendary phone first made its debut, and captured our hearts, in 2004 -- a much simpler time, when Juicy Couture velour suits were the fashion craze, and Avril Lavigne was at the top of the Billboard charts. The sleek, flip phone with its LED metal keypad was unlike anything else in the market at the time and quickly became the bestselling phone of all time, before Apple eventually claimed that title.

Motorola revealed its new Razr on Wednesday and it was met with much-expected excitement from nostalgic fans. The company claims the modernized version of the phone will still retain its iconic flip phone feature but with a much smarter processing system.

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Not only will the new Razr include a Qualcomm® Snapdragon™ 710 processor, but it will also include unlimited, high-quality photo storage for free, water repellency, moto experiences making it easier and faster to use the phone and Google Lens, an incredibly smart camera.

The Razr, set to launch in January 2020, will retail for $1,499 and will only be available on Verizon.