Don’t be surprised if you hear Iggy Azalea’s hit single, “Fancy”, playing in the background of commercials for Motorola’s second-generation Moto X. It is absolutely, without question, the fanciest mobile phone Motorola, or any other manufacturer for that matter, has ever produced. Despite several significant performance and design material upgrades, the handset is staying true to Motorola’s strategy of undercutting the competition on price. The base model will sell for $99 on contract, or $499 unlocked, when it launches later this month.

The Moto X is a gorgeous phone. It’s trademarked curved back, with a thicker middle that slopes towards thin sides, gives it a sleek, futuristic look. Motorola did away with the original X’s plastic frame and, perhaps taking design cues from Apple and HTC, replaced it with aluminum, giving it a more solid and luxurious feel. The 5.2 inch Super AMOLED display offers true 1080p resolution, up from the first model’s 720p. The 13-megapixel rear camera lens is encircled by an LED ring flash, designed to illuminate the subject with light that’s less harsh than is typical for camera phones. It can shoot in ultra hd mode, capturing 4K video. Beyond these impressive specifications, Motorola is once again giving you the freedom to make it your own.

The Moto Maker online custom-phone service is back, although the phones will no longer be assembled in the United States. The original Moto X could be customized by choosing the phone’s back housing shell from a huge variety of colored plastic, or real wood options. The new and improved Moto Maker adds the ultra fancy option of premium leather. Not pleather, like we’ve seen on Samsung’s Galaxy Note 3. This is honest to goodness, flesh from the back of animals, leather, sourced from Horween, one of the most prestigious tanneries in the country. If you want a swanky phone, this is the way to go. Accent colors on less obvious design elements, such as the grilles above the earpiece and microphone, can be modified as well.

The Moto X will launch with an almost, but not-quite, stock version of Android. It’s KitKat, with Motorola’s Touchless Control, Active Display, and Moto Assist enhancements. Users are no longer limited to the “OK Google” voice prompt. You can designate your own, custom voice prompt that the phone will always be listening for, such as, “Go-go gadget phone!” The phone comes with a few helpful voice prompt commands, like “Take a selfie” and “Post to Facebook”. If you don’t feel like talking, the Moto X can interpret your hand gestures with its four IR sensors. Simply wave your hand over the phone to silence the alarm, or an incoming call. Powering all these features is a Qualcomm Snapdragon 801 processor with a 2.5Ghz quad-core CPU and 2GB of RAM. There’s a 16GB version, and a 32GB version that costs $50 more.

The new Moto X is a high end phone, with a budget phone price tag. It has the potential to be a serious contender in this next round of the smartphone wars. Motorola, with its 2.8 percent global market share, has a long way to go, but it’s definitely on the right path.