Here's when Motorola will unveil the next foldable Razr

You won’t have to wait much longer to see the next-generation Razr. Motorola has announced a virtual event on September 9 where it will “flip the smartphone experience once again” — a not-so-subtle hint at a sequel to its first folding-screen phone.

The company didn’t provide many clues as to what the new clamshell will entail, but previous rumors have hinted at major performance improvements. The new version have a familiar if sleeker design, but would make the leap to a modern Snapdragon 765 processor with 8GB of RAM instead of the aging Snapdragon 710 and 6GB of RAM. The addition of 5G support would give it some additional future-proofing.

You might also see a significantly upgraded 48MP main camera, a 20MP selfie camera, 256GB of built-in storage. The battery would be significantly larger at 2,845mAh, although any potential for extra longevity might be offset by 5G and newer chipset. Don’t expect to use this in the rain — it might not be water-resistant.

If leaks are accurate, the new Razr will address complaints the original was underpowered for the money, even if the foldable design makes it difficult to compete with flagships. The price and release date aren’t yet known, though, and they could play major roles in Motorola’s success. The current Razr didn’t ship until early 2020, months after its announcement, and its $1,500 starting price point made it a tough sell compared to Samsung’s more powerful Galaxy Z Flip.

Read more: The best foldable phones

There’s also the question of its newest competition. The new Razr will compete directly against the Galaxy Z Flip 5G, which includes a significantly faster Snapdragon 865 Plus chip on top of a larger folding screen (albeit with a much smaller external display) and a possibly lower $1,450 price. While the new Razr promises to be a major upgrade over its predecessor, its price may determine whether or not you’re willing to sacrifice some performance in favor of its iconic design.