T-Mobile sells the Nexus 4 for $49 on-contract

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The days of the Nexus 4’s supply issues are long gone.

T-Mobile, which only started selling Google’s phone  last month, is now practically giving it away:  The 16GB version of the phone will run for $49 after a web-only discount and main-in rebate. (Google currently sells it for $349.)

The deal, which expires on February 18th, comes with a few caveats, however. For one — and this should be obvious — new customers will need a sign up for a two-year contract before they can take advantage of the price.

The contract factor is a big one with the Nexus 4, a device that’s held back by its lack of 4G LTE support. This alone should make most consumers rethink buying one on-contract: The last thing you want is to be stuck with T-Mobile’s aging and not-so-speedy 4G network for another two years.

Still, assuming the 3G and contract prison factors don’t bother you, it’s pretty hard to beat T-Mobile’s deal.

Photo:Devindra Hardawar/VentureBeat