Interested in picking up a Galaxy Nexus after seeing today’s keynote and unveil of Android 4.1 “Jelly Bean”? You should be. There’s good news for those that are, as today Google dropped the price before tax from $399.00, which is incredibly cheap for one of the top five smartphones of the last year and a half, to a mere $349.00, low enough to almost rival some on contract phones. (The next most expensive phone with a contract is the Galaxy S III at $280.)

The Galaxy Nexus offered through Google Play is of course the unlocked GSM version, meaning it’ll work on T-Mobile, AT&T, and hundreds of carriers worldwide, but not CDMA networks like Verizon and Sprint. It ships now with Ice Cream Sandwich, but will soon be updated to Jelly Bean.

Interested in Google I/O? See news from this year with the Google I/O 2012 tag.