Update:
RAZR2 official Details and photos

Motorola held the Mobile Experience event in NYC today. The mobile phone maker spent most time highlighting the already announced MOTORIZR Z8 as the ultimate video handset.

At the end of the event Motorola announced a new generation of RAZR phones that are 2mm thinner than the current RAZR handsets.
The new RAZR phones will run on a 500MHz ARM processor and support EV-DO, GSM/EDGE and HSDPA. Motorola will launch a new user interface on the RAZR 2.
The RAZR 2 will have 2GB memory and USB 2.0 connectivity.
Motorola will launch the new RAZR this Summer.
Engadget and Gizmodo provided live blogging from the event that turned out to only get interesting at the very end. See photos of the new RAZR on Engadget. The official press-release from Motorala is not out yet.