Motorola has again sold out of its Moto X under the latest promotion that offered the smartphone for $349 off-contract or for 50 percent off the on-contract price.

The Moto X is the first smartphone to launch from Motorola since Google acquired the company. The smartphone doesn't sport high-end specifications, but it offers unprecedented and unparalleled customization options that make it unique. It also sports some neat functionality that make it easier to operate.

When Motorola fist launched its new Moto X , numerous consumers were attracted by the neat customization options but were put off by the handset's hefty price tag. Although the Moto X came with mid-range specs, it launched at a price point comparable to top-end flagship smartphones with far better specifications.

Motorola had a very enticing deal on the Moto X on Cyber Monday, offering the off-contract smartphone for $150 off its regular pricing. The promotion appealed to so many buyers that Motorola's site eventually crashed on Cyber Monday, due to overwhelming demand. The company apologized and later offered the same deal again on two separate occasions, and both times it sold out of the smartphone in less than 10 minutes.

Seeing such great demand for the smartphone at this promotional price, Motorola's latest deal offered the off-contract Moto X for $349, or the on-contract smartphone for 50 percent off. The deal was meant for Today Show viewers and involved filling out a signup form with a promotional code. The promotion applied to the Moto X on Verizon, Sprint, or T-Mobile.

Once again, the Moto X promotion proved to be very popular, as Motorola has rapidly sold out of the smartphone. Accessing the Today Show signup form now displays a page informing interested customers that this promotion is over.

"That's it. Thanks for being a fan! We've sold all the Moto X phones we allotted for this promotion," reads the brief message.

With Christmas just around the corner, smartphones are among the most popular choices for holiday gifts. The Moto X seems to have made it to many shoppers' Christmas lists and with the promotion now over, the smartphone is now back to its regular pricing. If this proves anything, it's that a good promotion will see great demand even when it's repeated several times. When such deals kick off, it's always a race to get the discounted device while supplies last. In the Moto X's case, supplies don't last very long.