Is this being sold at a loss? An unlocked 16GB iPhone 4S is costs $650. If not, I'm impressed at the price point Samsung is able to achieve given the Galaxy Nexus's feature parity with the iPhone 4S. Which begs the question, why not spend an extra ~$150 per unit to really blow it out of the water, specs wise?
I think that's called Galaxy SIII. There should also be a new ~$500 Nexus this summer running Jelly Bean.