You know the ps3 cost in excess of 800 to manufacture at launch, and sold for around 400. The us army/navy, forgot which, bought a bunch of ps3s to harvest the cell processor. But that doesn't mean that's what most people do. Xbox Also cost more to produce, but I haven't heard of anyone selling it's parts.
Yeah I was about to write about this. Those consoles were sold at a loss because they could make up the difference and then some on game sales (through licensing or however that works).
The qestion then becomes how would Google monetize these phone users? Do they listen to our phone calls or text messages and send us even more targeted ads? Are they looking to monetize voice communication they way they did email?
In order to sell at a loss they have to be making it up somewhere.
It wasn't just game sales. Bill Gates has seen the need and value of a PC underneath everyones TV since at least 1995. Set top box software. Web TV. Etc. Xbox is the next step in that strategy. Sony saw the same thing.
And this is no different, I don't think. Google sees value in putting accessibility to its services in everyones pockets.