Today Google announced the Google Nexus 4. It's similar to the LG Optimus G but with an up-to-date version of Android. That means you get a 4.7" 1280x768 IPS display with Gorilla Glass 2 - to say the display on the Optimus G is amazing is a gross understatement. Other specs include a Qualcomm Snapdragon S4 Pro processor, 2GB of RAM, 2100mAh battery, etc. One feature which the Nexus 4 lacks is LTE though it does have penta-band HSPA+ support.
It will ship with Android 4.2 and will be available in 8GB and 16GB models. Neither will have a microSD card slot
The 8GB model will cost $299 while the 16GB is $349 or $309/$359 CAN. Both are unlocked. For the hardware you get, it's a killer deal but the lack of LTE may be a deal killer for both carriers and some customers. The lack of microSD may be a deal-breaker for reviewers.
The lack of LTE is a big disappointment and pretty much ensures no carriers besides T-Mobile will promote it. That said penta-band HSPA+ gives you the most flexibility if you're going to switch carriers (another reason why probably no one will promote it). As far as customers are concerned, it really depends on how congested your carrier's HSPA networks are.
T-Mobile will be selling the 16GB model for $199 on contract. I tried T-Mobile's network in New York recently and I was mildly impressed. In the places I was it was certainly fast enough that I could live without LTE.
The price point is very competitive but I also find it quite interesting. Basically, what the price means is that if an OEM can't make an Android overlay that connects with consumers like Touchwiz or to a lesser extent Sense, then all their super high-end phone is worth is around $349 unlocked. Another way to put it is that all 'Android' phones are only worth $349 max. I'd expect OEM's to put more work in their software overlays going forward.
Personally, I'm not sure if I'll get it. Stock Android is nice but it lacks some features. Then again, it's a killer deal. What about you? Interested?