"I don't see why the government shouldn't be able to get technology at a good price for low-income families, " he says.

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You probably couldn't have bought them at the offering price, a figure set artificially low in a ritual that allows issuers to create feverish excitement about themselves and allows underwriters to reward their friends.

FORBES: Venture vetting

Still, we haven't seen sustained sales of a cutting-edge Nexus phone at a low-end price, and it may be harder to say that LTE and extra storage are worth more on an Optimus G or its immediate competition.

ENGADGET: Editorial: Amazon and Google are undermining mobile pricing, and that may hurt everyone