Google's line of Nexus phones have always been landmark devices for the Android operating system. Typically they receive longer lasting support than their normal counterparts, and also are the first phones to run the newest version of the Android operating system.
Since its release in November, the Galaxy Nexus has been one of the most powerful and desirable Android phones on the market. The HTC One X and Samsung Galaxy SII are the two other primary phones, though neither comes with a completely stock version of Android 4.0.
The Galaxy Nexus, like its predecessor, the Nexus S, was produced by Google in cooperation with Samsung. At present the next powerhouse to come from Samsung is meant to be the Galaxy S3, which could be officially announced on May 3rd. At present there have been a number of rumored images leaked as well as possible specifications and falsified renders, though Samsung have remained tight-lipped. Since Samsung are the biggest manufacturer of Android devices, they make an excellent partnership for Google's open-source mobile operating system. The sales success of the Galaxy SII has also meant that the company would be an ideal ally to remain with.
Predictions made by Android and Me suggest that the next Nexus handset could release in Q4 of 2012. Should this be the case, the Galaxy Nexus could quickly find itself outgunned by the Galaxy S3, if the rumored specifications are accurate, and also by a newer Nexus sibling. If this is the case, then prices of the Galaxy Nexus could drop very quickly.