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LOOK: The new Nokia 3310

MANILA, Philippines (UPDATED) – It's confirmed: the iconic Nokia 3310 is making a comeback nearly 17 years after it was launched.

HMD Global Oy, which has the exclusive rights to build and market phones under the Nokia brand, unveiled the phone ahead of the start of the Mobile World Congress in Barcelona.

On its website, Nokia said of the updated 3310's design: "The new Nokia 3310 takes the iconic silhouette of the original and reimagines it for 2017. The custom designed user interface brings a fresh look to a classic, while the 2.4-inch polarized and curved screen window makes for better readability in sunlight."

The phone has 2G connectivity, a 2-megapixel camera with LED flash, a headphone jack, an FM radio, an MP3 player, and 16 MB storage plus a MicroSD card slot with support up to 32 GB.

Nokia said it also has "awesome battery life, with up to 22 hours talk time."

Unlike the original, which was known for its sturdiness, the new 3310 will allow web browsing.

The 3310 comes in 2 variants – single SIM and dual SIM – plus there are 4 colors to choose from: warm red (glossy), yellow (glossy), dark blue (matte), and gray (matte).

And for those who were wondering – yes, you can play the legendary Snake on this 3310!

Reports said the new phone will be priced at 49 euros ($52) and would be available in the 2nd quarter of the year.

From pioneer to playing catch-up

Launched in 2000, Nokia's original 3310 sold nearly 120 million units worldwide before it was discontinued in 2005, making it one of the world's best-selling mobile phones.

Analysts said resurrecting the popular model was a clever way for HMD Global to relaunch Nokia's brand.

"HMD launched 3 new smartphones and an iconic mobile. It is a way to create a halo effect around the other models by reviving talk about the Nokia brand," said Thomas Husson, a mobile analyst at Forrester.

In addition to the new 3310, HMD presented 3 new smartphones, the Nokia 3, Nokia 5, and Nokia 6 which will sell for different prices.

The Nokia 6 is already available in China and will now go on sale globally.

"We think (Nokia) could take 5% of the global smartphone market by the end of 2019. But it needs to get big quick or it won't work," said CCS Insight's device specialist and chief of research, Ben Wood.

Nokia was the world's top mobile maker between 1998 and 2011 but was overtaken by South Korean rival Samsung after failing to respond to the rapid rise of smartphones.

Its telephone brand remains widely recognized, especially in developing markets.

Now a leading telecom equipment maker, Nokia sold its entire handset business to Microsoft Corp in 2014.

Last year HMD bought Microsoft Mobile's handset business and the right to use the Nokia brand.

Under the agreement, Nokia will receive royalty payments from HMD for sales of every Nokia branded mobile phone or tablet.

What do you think of the Nokia 3310's comeback? Let us know in the comments! – with reports from Agence France-Presse / Rappler.com