You can get the LG Nexus 4 from Affordablemobiles.co.uk on Three's Ultimate 300 for as little as £20 per month. That's a total cost of ownership of £480. Given that the phone by its own costs around £290, that's an effective SIM only cost of around £9 per month. Not bad for 300 minutes, 5,000 texts and unlimited data every month (but no tethering)
Like its tablet equivalent, the Google Nexus 7 tablet, the LG Nexus 4 offered much more than the competition for a lesser amount when it went on sale. It comes with a quad-core Qualcomm Snapdragon APQ8064 SoC clocked at 1.5GHz, 2GB of RAM, 16GB onboard storage, a 4.7in 1,280 x 768 Super AMOLED display, an 8-megapixel rear camera, NFC, Bluetooth, USB and Android 4.2 Jellybean.
The only big letdown was the fact that it doesn't have a microSD card slot. Some might also argue that it doesn't come with 4G LTE compatibility and that the display is not full HD. However expect its successor, often referred to as the Google Nexus 5, to add both (and maybe some more). You can read our review of the Google/LG Nexus 4 smartphone here.