Nokia is back with the launch of its iconic 3310 mobile phone which reigned in the early 2000s. It was probably the first phone of those kids who are now Millennials. The Finnish brand rebooted the handset for the modern era and unveiled it at the Mobile World Congress in Barcelona. Will Android and iOS smartphone owners ditch their units and give this newcomer a chance?

The new Nokia 3310 sports similar looks like its older brother but has larger and color screen. While the gadget pales in comparison to leading smartphones such as iPhones and Samsung Galaxy series, the Nokia 3310 is making head turns due to its one distinct advantage - month-long standby mode battery life. Beat that, iPhone 7 and Samsung Galaxy S7.

The consumer electronics sector has been nostalgic lately. Last year, Nintendo re-introduced the Classic Edition and made lots of money from the retro gaming console. BlackBerry is another brand that is making a big comeback this year. The Canadian company is planning to expand its smartphone portfolio and hopes to capitalize on good memories. This marketing strategy is probably Nokia's gameplay as well.

More than a decade ago, Nokia and Blackberry were among the most trusted and purchased names in mobile. Then the iPhone and Android brands came out and changed the smartphone game forever.

For Nokia, the game is not over yet. The re-introduction of the 3310 has several goals. First, Nokia wants to recapture its lost share in the mobile phone market. Second, it aims to re-establish the golden glory of a brand that ruled the 90s and early 2000s.

By re-launching a device that is so well-loved by consumers before, Nokia can then position its high-end smartphones including the Nokia P1 and Nokia P6 to compete with Android and iOS-powered brands. Nokia is back! Watch out Apple and Google!

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