Helio today formalized the launch of the Ocean 2. The handset closely fits its description from an early hands-on and adds 2GB of built-in storage, an optical navigation pad and improved messaging that involves Google Talk and threaded SMS. It continues to offer a 2-megapixel camera and built-in GPS for navigation and location-based social features. It can also serve as a media player with a 3.5mm headphone jack.

The Ocean 2 is now set to cost $149 on a contract, and is confirmed by Virgin Mobile as shipping on February 12th bundled with a 512MB microSD card; it takes regular microSD cards up to 2GB. The handset will come in red trim at first and should have additional color options at a later date.