It's a low price on what's still a good Ice Cream Sandwich phone: Vodafone has the Galaxy Nexus in its online store for $29 a month on a 24-month contract, with no extra handset charges. There's also one month free, so the total cost of buying is $667.
When the Galaxy Nexus launched in Australia last December, Vodafone was charging an $18 a month handset fee, so the price drop has been rapid. You don't get a lot of credit on a $29 plan (and a minimal 200MB of data), but it could suit some people. The offer runs until June 28.