After countless rumours and speculations, Motorola finally unveils the new Moto G that bears a friendly tag price of $179.

At a launch event in New York City on Nov. 13, Motorola introduced the Moto G, which is a lower cost alternative to the Moto X. Motorola took to Google+ and its blog to announce that the Moto G will be priced at $179 without the burden of a contract. On the other hand, Moto X is offered at $499.99 and is available via various carriers like Sprint, Verizon Wireless and AT&T for $99.99.

The 8 GB variant of Moto G is priced at $179 while the 16 GB model costs $199. Moto G boasts a 4.5-inch 720p HD display with 329 ppi. The low cost Motorola phone also sports a 1.2 GHz quad-core Qualcomm Snapdragon 400 processor, 1 GB of RAM, 5 MP rear-facing camera, 1.3 MP front-facing camera and a 2,070 mAh battery.

The device is running with 4.3 Jelly Bean OS but will receive the Android 4.4 KitKat OS update in January. Support on 4G/LTE connectivity is obviously missing in the device as well as a microSD slot for expandable storage.

The new Motorola handset is also customisable and offers 19 customization options, including interchangeable Motorola Shells and Flip Shells in seven colours, as well as Grip Shells in five colours.

The Moto G will arrive in Brazil and parts of Europe this week and expand to Latin America, Europe and Canada in the coming weeks. By 2014, the Moto G will be available in 30 countries with more than 60 partners on board. In the U.S., buyers will be able to get their hands on the device by January.

The Moto G offers a great low cost alternative to other high-end smartphones in the market. The device surely beats the Google Nexus 5 in terms of price. Google slipped the Nexus 5 in the Play Store last Nov 1, costing $349 off contract. However, the Google Nexus 5 offers some higher specs and features in comparison to Moto G. For example, the Nexus 5 comes with 4G/LTE Connectivity, 8 MP back camera, larger storage options, faster processor and the latest Android operating system.