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. >To submit a news tip, send an email to: firstname.lastname@example.org.