Nexus 4 fans, if you're looking to snap up the hottest-selling smartphone, Nexus 4, we have some good news - there's a new deal available which will set you back by just $49.99. That's right, U.S. carrier T-Mobile has the Nexus 4 up for grabs on a two-year contract for $49.99.

The latest T-Mobile offer is currently the cheapest one around, and is even more economical than the $349 (16GB) price on the Google Play Store for the off-contract Nexus 4.

The current T-Mobile offer is a limited time Web-only special deal and is only valid till Feb. 18. Normally, purchasing the Nexus 4 from T-Mobile would set consumers back by $199.99 on a two-year contract; however, with this deal buyers save $150. The only downer to the offer is that users will have to claim a $50 mail-in rebate, but with the once elusive smartphone costing just $49.99, it's worth the trouble.

Recently, retailer LetsTalk began offering T-Mobile's variant of the Nexus 4 for $84.99 on a two-year contract. Even after applying the coupon code "TALK4TEN" at check out, buyers would still be shelling out $76.49, which makes the web-only T-Mobile offer a steal.

Additionally, reports suggest that retailer Walmart too will begin offering the T-Mobile variant of the Nexus 4 soon, so things seem to be looking up for the carrier.

If you want to grab the Nexus 4 from T-Mobile for $49.99, head over here before stocks run out. Remember, the deal is only valid till Feb. 18.