T-Mobile (USA) has once again reduced the price of Google Nexus 4. The carrier is now selling the phone for $49.99 on a two-year contract for new customers only.

T-Mobile sells the 16GB version of the Nexus 4 for $199.99 but in the past the price of the smartphone was reduced to "free on a two-year contract." T-Mobile is also waiving the $35 activation fees on the smartphone.

If you pay $49.99 for the Nexus 4 on a two-year contract with T-Mobile, then depending on the data plan you are buying, you may end up paying $79.99 per month or more over two years. However, if you want to buy the smartphone from the Google Play store you will have to lay down $299 (16GB) or $349 (32GB) and you can pay $30 per month for one of T-Mobile's off-contract Monthly4G plans.

The Nexus 4 is one of the best Android smartphones in the market, as it combines both powerful hardware and Android 4.2 Jelly Bean, which is currently found only on Google's Nexus line-up of devices.

If you are tempted by the $49.99 offer from T-Mobile then it is worth noting that the carrier will soon offer at least one new high-end smartphone. The HTC One, launched recently at the Mobile World Congress (MWC) 2013, is HTC's latest flagship smartphone, which is set to replace the HTC One S on T-Mobile's network. The HTC One is expected to hit the shelves at the end of March this year.

Samsung also seems to be on track to launch the highly-anticipated Galaxy S4 at an event in New York and may arrive on T-Mobile's 4G LTE network in the future.

The Nexus 4, launched in November 2012, has been dogged by supply issues and now, when Google has managed to address the supply problem of the smartphone, other top-end smartphones are on the verge of making their appearance.

T-Mobile does not state on its website if the $49.99 offer on Nexus 4 is for a limited time only.