Samsung has announced a successor to its Jet handset, released with much fanfare just under a year ago. The Samsung Jet Ultra is on shelves now, equipped with the same 800MHz processor as its older brother, but a considerably smaller price tag.

The phone has a 3.1-inch AMOLED display, a 5-megapixel camera, various bundled social networking apps, Bluetooth, Wi-Fi, GPS and 2GB of onboard storage. It also supports microSD storage, so you can pump that with an extra 16GB if you so desire. Presumably it'll retain the unloved Jet operating system.

The Samsung Jet Ultra is being sold exclusively by O2, free on a £15 tariff of over 24 months, or a £20 tariff over 18 months. It'll also come bundled with a set of three classic gangster DVDs, bizarrely. So if you want a relatively high-specced phone cheap, love gangster movies and aren't too fussed about Android, iPhone or BlackBerry, perhaps this could be the phone for you.

Correction: A previous version of this post suggested the handset had yet to be released, and we were supplied with incorrect pricing information. We're pleased to correct these errors.