It is a great time to grab a Nexus 6 smart phone. Google, Amazon and T-Mobile have dropped the price of the Nexus 6 earlier this month. From a retail price of $649, consumers were able to pick up the 5.9 inch flagship phone for only $550.

Motorola has now joined the bandwagon and is offering a substantial price slash for the Nexus 6. The product used to retail at $649.99 for the 32GB model and $699.99 for the 64GB one. The company has knocked out $150 on both products, leaving them at $499.99 and $549.99 respectively. Motorola is also offering the Nexus 6 in Midnight Blue and Cloud White colors.

What's more, buyers with a Motorola credit account can avail of a no-contract unit for about $28/a month payable in 18 months.

It is quite an interesting deal, considering the Nexus 6 is touted to have premier specs like a 2.7 Ghz Qualcomm Snapdragon 805 quad-core processor, 3GB of RAM, an Adreno 420 GPU, 3220 mAh battery, a built-in storage space of either 32GB or 64Gb and 4G/LTE connectivity.   

Google has not given any explanation about the sudden price drop, but the company is known for its tradition of slashing the price of its flagship devices a few weeks before it launches a new device. Some say the discounted prices might be an indication that the highly anticipated Nexus 5 (2015) is finally on its way. It is also possible that the Mountain View-based company is reacting to consumer feedback about the sudden price hike of its product or it could be a clever marketing ploy aimed at improving sales and getting more subscribers.

Whatever the reason, it is a good idea to take advantage of the situation, especially since Google is offering the price cut for a limited time only. Motorola is also giving prospective buyers until June 23 to pick a new Nexus 6 for themselves.