Moto X Price for Unlocked Model Drops $70 Until Feb. 22.

The Moto X price will be slashed by $70 for the unlocked model.

This new deal will be available to buyers of the smartphone until Feb. 22 and sets the price for the 16GB version to just $329 making it cheaper than the Nexus 5 which starts at $349.

The Moto X launched in August of last year and functions as the company's flagship handset. It feature specs that failed to wow many critics, but seemed to execute well in other areas including its integration of the Android operating system, which is similar to what is found on the Nexus line.

Motorola was recently sold by Google, but the smartphone still seems to be receiving significant support from the company. A lower-spec Moto model was released shortly after the Moto X and carved out its own lane in the handset market.

The device known as the Moto G packs a Qualcomm Snapdragon 400 processor, a 5-megapixel rear camera, 1.3-megapixel front shooter, Android 4.4, KitKat or Android 4.3 depending on the variant, a 4.5-inch LCD display with 720 x 1280 resolution at 329 ppi and 16GB of internal storage.

The Moto G received rave reviews and was even crowned Product of the Year at the 2013 TrustedReviews Awards. The smartphone is an extremely affordable SIM-free handset, which makes it even more appealing to the average customer not looking to lock into a contract.

A Moto G Google Play Edition is now available in Google's online store.

Google Play is offering this new pure Android version of the device for $179 for the 8GB model and $199 for the 16GB version. Google and Motorola basically released the handset without any prior announcements or press releases.