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Bill Radke: Google is expected to unveil its new smart phone next week. Marketplace’s Mitchell Hartman reports on the buzz.

Mitchell Hartman: Several technology Web sites are speculating that the Internet giant will unveil its own smart phone, called the Nexus One, on Tuesday. With features like a touchscreen, wi-fi Web access and apps galore, it’ll be a direct competitor to Apple’s iPhone.

It’ll reportedly come with a T-Mobile contract for $180. But for just over $500, there’ll be a version that’s not locked to T-Mobile’s network or anyone else’s.

Kent German follows the cellphone industry at CNET:

Kent German: Five hundred dollars would certainly be a great price for this, to have a completely unlocked phone that you could take to any carrier you want.

Keep in mind, Apple’s iPhone can only be used with AT&T. And like most phones, the cheap version comes with a long-term contract and penalties for early cancellation.

German: People are becoming more sophisticated. They’re willing to pay more and say, “Well, I’m going to be able to take this phone and use it overseas if I like, or I’ll be able to switch carriers at will if I move, or if I just don’t like the service I get.”

In an e-mail yesterday, Google refused to reveal any details about a press event it’s scheduled for next Tuesday — or its new smart phone.

I’m Mitchell Hartman for Marketplace.