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For $299 (no contract) you can grab the new Nexus 4 — a 4.7-inch, quad-core smartphone powered by Android 4.2 Jelly Bean

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The Nexus 10 [2] isn’t the only thing Google revealed today. In addition the the awesome 10-inch tablet, Google [3] announced their fourth installation of a Nexus Android smartphone. This one, named the Nexus 4, may be more significant and marketing disrupting than the previous three (Nexus One, Nexus S, and Galaxy Nexus). for one main reason: it is priced so insanely low. If you thought the $350 unlocked, no contract Galaxy Nexus was a bargain (and it was), be prepared to be astonished by the Nexus 4’s price tag.

The following are the specs of the Nexus 4:

With its blazing fast processor/GPU and excellent display (for comparison, the iPhone 5’s 4-inch display is 326 ppi) the Nexus 4 is, without a doubt, a top-of-the-line device. What makes this smartphone even better is its bottom-scraping price tag — the 8GB version costs $299 while the 16GB costs $349… and they come unlocked (aka you can use them on any GSM network worldwide) without you having to sign any contract! Really, why would anyone buy anything else?

Okay, there is one reason. The Nexus 4, unfortunately, doesn’t have LTE. Why doesn’t it have LTE? There is speculation that LTE would have driven the cost up for the device and including LTE requires Google to cooperate with carriers, something Google does not want to do for a Nexus device because cooperating with carriers slows down Android updates (e.g. updated to Galaxy Nexus on Sprint and Verizon were delayed by three months due to their interference); slow Android updates is counterproductive to one of the main attractions of Nexus devices — fast Android updates. Whatever the reason may be, not having LTE is definitely a deal killer for many people.

The Nexus 4 arrives on November 13 in the US, UK, Australia, France, Germany, Spain, and Canada. Will you be grabbing the Nexus 4? I likely will. Let us know in the comments [4] below!

Nexus 4 homepage [5]