The Moto X is one of the best Android phones in the market today and offers strong competition for the iPhone 6. Those who have been wanting to own the device but are held off by its market price now have the chance to fulfill their wish.

Motorola is offering the 2014 Moto X for $359 on Cyber Monday, Dec. 1. That means it's slashing off $140 from its original price. For those who are keen on getting a good deal of a phone under contract, Verizon offers the device for only $0.01. Either way, Motorola is also cutting 30 percent off its accessories, although Chromecast will not be included.

The penny priced Moto X is for the 16GB variant. The 32GB version is said to cost $50.01. For an additional $25, customers can also get the leather or wood versions.

At a $359 price point, customers are getting a 5.2-inch Moto X, which is similar in size to the new Sony Xperia Z3 and a little bit bigger than the 5.1-inch Galaxy S5. The display is protected by Corning Gorilla Glass with the familiar AMOLED technology. The resolution is set at 1080p full HD with 423 pixels per inch.

It also features the Motorola Active Display, which is the device's own way to conserve battery life by default. With a simple wave of one's hand over the phone or when the device is taken out of one's pocket, the device automatically shows the current time and the notification icons. All of the other screen details remain off. Moreover, it has the popular, always-on microphone that is ready to take one's voice commands.

The Moto X Cyber Monday deal works on a first come, first served basis. For those who are interested, they are required to log into the Motorola site on Monday between 11:00 and 17:00 CST. While it means that customers have at least 6 hours to spend in order to get their device, the offer of course remains good only until the supplies last.

After logging in, customers should be able to register for a discount code that would then be sent to their email. The code is valid only for 14 days from the day it is received. This means that all codes must be redeemed by Monday, Dec. 15, at 23:59 CST.

While waiting for Cyber Monday, customers can start visiting the company's site for some window shopping and start making their wish list. They can also "like" Motorola on Facebook to win some giveaways.

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