When the Samsung Galaxy Note 7 was released, it was, quite literally, a fiery contraption. Equipped with a hefty 3500mAh battery, a sleek yet dynamic framework, a selling price of $850, and initial reviews that extolled its revolutionary design, there was no way Samsung wouldn't give Apple (AAPL  ) a run for their money.

However, this seemingly harmless success was fleeting. A loophole in the design of the device situated in the upper right corner of its battery resulted in short circuits that caused Note 7s to burst into flames and explode. When Samsung tried fervently to address this problem by changing its battery suppliers, updating the phone's software, and ultimately recalling devices to be replaced, even the replacement phones begun to catch fire. Most notably, there was an incident on a Southwest Airlines flight in which a passenger's Note 7 began smoking heavily. This is also the chief reason Samsung Galaxy Note 7s are banned from flights across the globe.

Now, it seems as though instead of wallowing in its failures, Samsung wants to put the past behind. Instead of totally abandoning the Note brand like people expected it to, Samsung has set out to launch new and improved counterparts to the once-failed Note 7 in the form of the Galaxy Note 7 FE (FE is short for Fan Edition).

The new model is an improvement upon the previous one as it has "passed new safety measures" and comprises a much safer, smaller 3200mAh battery that also brings down the price of the phone. The battery has also endured the same 8-point battery safety tests that were conducted for the Galaxy S8. The device also carries a software that is identical to the one on the new S8 and S8+. Additionally, it possesses the iconic Bixby button.

The catch is that Samsung is only selling this model in South Korea as of now. This is a cautious and defensive move on Samsung's part, using the South Korean market as a way to inspect the playing field and generate enough hype from one concentrated area without the same large scale risks that come with selling worldwide. It will cost about $610, which is around 30% less than the price of the original Note 7 and is expected to sell over 400,000 units in Korea itself.

Because of the fact that the market is geographically restricted, there is not much scope right now to compare the Note 7FE with its competing products like those of Apple i.e the iPhone. However, if the Note were to be released into the global market, it would have the advantage of being significantly cheaper than the current iPhone 7, which sells for about $800-$900. Moreover, if all goes well in South Korea, then enough positive reviews could be generated that would increase demand for this model, further allowing Samsung to compete with Apple. Other significant competitors in the Android market include LG and OnePlus, both of which have capitalized upon Samsung's Note 7 debacle to increase their respective market shares.

It remains to be seen whether the Note 7FE will survive this rather unexpected comeback, but be sure to note that if it does, Samsung will be back stronger than ever and ready to compete.