However, Polaroid enthusiasts will be disappointed to learn that the new Polaroid 300 camera and film is not based on new or old Polaroid technology, but on Fujifilm Instax brands. The design of the camera resembles that of Fujifilm's Instax Mini 7 instant camera with its exaggerated curves. It is unclear, at the time of writing, whether the Polaroid 300 will accept Fujifilm's Instax films, however, specifications for both cameras and films are identical.

Polaroid says that this partnership "brings together the heritage of the Polaroid brand with the world class capabilities of Fujifilm."

In a statement, Giovanni Tomaselli, managing director of the Summit Global Group, the exclusive worldwide licensee for Polaroid branded imaging products, says: "We are thrilled that today marks the return of instant. It's bigger - and better - than ever. The Polaroid Movement is one that we heartfully embrace and intend to build upon by reaching the creative community and global Polaroid fans alike."

Summit Global Group received the license for Polaroid instant products last year. At the time it said it would relaunch instant cameras that would use The Impossible Project's new instant films designed for Polaroid's old SX-70 and 600 cameras. It remains unclear whether such camera will be released in the near future.

In related news, Polaroid has also announced it would release, later this year, new digital instant cameras using the Zink Zero Ink Printing technology that is at the heart of Polaroid's PoGo printer. Polaroid, last year, released an instant digital camera, which, so far, has proved unsuccessful to draw crowds. However, PLR IP Holdings believe new planned products will "showcase the fun of instant and the power of digital that personifies what the Polaroid brand is all about."

Finally, Polaroid is also partnering with Aperture Foundation for the launch of a supplement to Aperture's summer issue, which will showcase the work of photographers and artists such as Chuck Close, Mary Ellen Mark, Joel Meyerowitz and Maurizio Galimberti. The insert will be available exclusively at the New York Tribeca Film Festival and to Aperture subscribers.

"Apart from its approachable nature to amateur photographers, the Polaroid brand is a central part of many renowned artists' work, including Ansel Adams, Andy Warhol and Maurizio Galimberti," says Juan García de Oteyza, executive director of Aperture Foundation. "Aperture is thrilled to see Polaroid bring back its signature instant photography and we look forward to seeing what a new generation will create with Polaroid products."

For more information, visit polaroid.com.