Image from Engadget

Google’s new wireless phone has been trending to the tops of every social media trends and live search stream as news updates, leaks, and rumors have been brewing up big discussion just recently, as the coming year arrives. This is HUGE, and we’ve got the first leaked videos on Google’s “Nexus One” just hours ago. Google is to team with T-Mobile with this extremely anticipated device, giving a huge percent discount to those who sign a contract to use the T-Mobile wireless service. January 5th is rumored to be the release date of the Nexus One, which has very probable likelyhood to be true seeing that Google has been inviting select media sources to a press release on that date.  If this is where it all goes down, this is where Big G will teach us the beauty behind the android devices that are getting rampant for the next decade.

Some speculate that this is the device that Apple should be afraid of, as it will have an impact on the market share of these types of smart phones. Interestingly enough, this is actually the first phone that could compete with the iPhone, with it’s incredible display, impressive UI, and overall glossy presentation.

UPDATE – it looks like Google pulled the first video off of Youtube, as it saw it as a violation. The second video is still up as of 2:00am Dec 31. The video that was pulled showed 10 min. of extremely impressive features of the Google Nexus One, demonstrated by someone using a French version of the phone. He demonstrated maps, videos, music, and shifted though several apps and interactive wallpapers. We’re lucky to have been able to see it before it went down. Keep an eye out for more leaked videos all week, but don’t be surprised if they don’t last more than a few hours.

After pulling together critical information from dozens of key tech sources throughout the trenches of the internet, we’ve learned the following things you need to know about the Google phone:

Price: $530 – Unlocked, straight from Google. $180 if subsidized on the T-Mobile network with a 2-year contract.

Rate Plan: $79.99/month on the T-Mobile plan, which includes unlimited texting/MMS and web data, along with 500 minutes. This seems to be the only plan available, even if you’re already on another plan with T-Mobile

Purchasing: You can buy up to five Nexus Ones per Google account (Gmail). All of this will be done online.

Cancellation: If you cancel within 120 days, you have to pay the subsidy difference ($350), or return the phone back to Google.

The subsidized price actually puts it on the same level range as the iPhone and the Verizon Droid, but we don’t know how many will be willing to fork out the full $530 right away. Let us know what you think about the pricing.

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