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I had this exact same issue when I first received my Nexus 4. I thought it may had been a faulty sim card, so I replaced that, twice, same result. I went ahead and formated the phone back to stock, same result. Checked and made sure APN settings were correct, same result. Contacted T-Mobile, they reset my phones service and the data in my area, same result. After both I and T-Mobile ran out of ideas I decided to contact Google for a replacement. Turns out it was a faulty antenna and my new device has been working fine since.
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