T-Mobile Prices Galaxy Note II

NEW YORK (TheStreet) - The release of Samsung's Galaxy Note II super-phone is big in almost every possible way. The phone is somewhat smaller than the original Galaxy Note, but has a larger screen of 5.5 inches, measured diagonally. It has loads of memory, a quad-core processor and a slew of new phone and tablet features (accessed with its Wacom stylus) It runs on Google's (GOOG) latest Android 4.1 OS - code named Jelly Bean.

You should watch our video review - and our feature on the phone's features.

That said, when we recorded those pieces we weren't sure about final pricing from the five cellular providers. We knew that Sprint (S) was asking $300. And we've since learned that AT&T (T) will match that price.

But this morning we received word on pricing from T-Mobile, a division of Deutsche Telekom - and it sets a new record for a contract-based Android smartphone bought from a carrier.

See if you can follow this:

"The device will be available in retail stores and online - and paired with a qualifying T-Mobile Value voice and data plan and two year service agreement, the Note II will cost an out-of-pocket down payment of $249.99 with 20 equal monthly payments of $20 per month via T-Mobile's Equipment Installment Plan (EIP). The Value plan paired with EIP is offered at T-Mobile retail stores.

Customers can also purchase the Samsung Galaxy Note II at T-Mobile retail stores and online for $369.99 with a qualifying T-Mobile Classic voice and data plan and two year service agreement."

The bottom line? That's one expensive cell phone.

T-Mobile's Galaxy Note II is also the first to come with Electronic Arts' (EA) Need For Speed: Most Wanted game pre-loaded in the phone's memory.

--Written by Gary Krakow in New York.

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Gary Krakow is TheStreet's senior technology correspondent.