Since you say the phone doesn't recognize the card I think there's another factor here and reformatting probably won't do you any good, the phone will probably never speak to the card.

You say the phone accepts 32gb "SD" cards. 32gb is a special value here--it's the maximum possible SDHC card. Any card above this must be SDXC--and devices from the SDHC era won't recognize them. (I used quotes around "SD" because there is no such thing as a 32gb SD card--I forget the breakpoint between SD and SDHC but it's far below 32gb.)

Given that capacity limit I think it's very likely the phone does not recognize SDXC cards and there is no question your card is a SDXC card.