On Thursday, Google and Motorola launched the first major bit of hardware since Google's purchase of the company two years ago for $12 billion. The device has been highly anticipated over the past few months and Google has reportedly spent $500 million marketing the device. Now that it's out, it's time to ask how it stacks up on the competitive smartphone market.

The Moto X won't floor anyone with it's specs. It is a mid range device and isn't going to topple Samsung's Galaxy S4 or the iPhone 5 in terms of top-of-the-line hardware any time soon.

According to Endgadget, the smartphone has a 4.7-inch 720p AMOLED panel, 2GB of RAM, 16 GB of base storage (or 32GB if you opt for AT&T as your provider), a 2,200mAh battery offering 24 hours of "mixed" usage and the standard 4G radios. As for the camera, it offers a 10-megapixel Clear Pixel rear camera and a 2-megapixel front-facing camera, both of which shoot at 1080p. The phone can support Bluetooth 4.0, USB 2.0, 802.11a/b/g/n/ac. GPS and GLONASS, a standard 3.5mm headphone jack, Miracast Wireless Display, NFC and nano-SIM. It does not run the latest version of the Android operating system.

While these specs are nothing to scoff at, they're also nothing to write home about. So the question is, what makes the Moto X one of the most exciting smartphones to hit the market this year?

It could be its development for touchless controls. Google has been playing with giving users the ability to talk to its devices in order to get them to function with the Google Glass and the speak and search feature, Voice Search, on its Chrome browser and subsequent apps. For drivers looking to safely use their smartphone's features while on-the-go, it would seem like the perfect choice.

If touchless isn't your cup of tea and you're the type of person who wants to constantly hold your phone, then you at least want it to look good. AT&T and Best Buy users will be able to customize their Moto X devices with a variety of colored cases and accent features on the phone itself. The phone has two front colors, white and black, and 18 back colors with seven accents. While that sounds like a manufacturing nightmare, ZDNet believes if Motorola can deliver, it will be able to leverage its U.S.-based manufacturing hub more effectively than rivals who build their devices in Korea or China.

Tell us what you think below. Is the Moto X a lack-luster device that pales in comaprrison to high-end smartphones like the iPhone or Galaxy S4? Are you excited about the first real "Google phone?" Comment and share below.