Since you specifically asked about the camera... I honestly couldn't recommend this phone any less (due to the camera.) The phone itself? Excellent. Mine has minor build quality defects, but I don't foresee them to be detrimental to the livelihood of the phone over the next few years.
The camera, however, is incredibly unreliable, and not up to snuff with the standards set in smart phones over the past few years. My Galaxy S2 took marginally better photos than this camera is capable of. Good shots from this shooter are, quite literally, 1 out of 100. It only adds insult to injury that these good shots are pretty damn good. Not once have I managed to whip the phone out and point-and-shoot my way to a great shot on the first attempt, either. Here's a few examples of what I consider to be worthy shots from this camera
. Each one took around 4-5 attempts to remedy focusing/white balancing/ISO issues. Finally, here's an example of a point-and-shoot situation
. This pretty accurately represents the kind of photos I get from this phone in everyday usage; decent color representation, but poor white balancing, and poor detail in anything more than 5 feet away -- notice there's no distinguishable focal point -- everything is out of focus.
Barring the sub-standard photo quality, mine is useless in low light situations, due to the purple/pink discoloration of images, and poor focusing. Check out this thread
about the issue -- it's pushing 300 pages of replies in just over 4 months.
On the flipside, if you give this lens the tons of natural light that it needs, you're bound to get some excellent shots. I noticed that trend pretty quickly in the photo thread linked above -- outdoor shots are mostly great, indoor shots are mostly terrible (no offense to any of you who contributed to that thread!)
If you were to say you wanted an awesome smart phone that just so happened to take pictures, I'd probably have much better things to say about the device. Since you asked about the camera, I encourage you to avoid it like the plague. It's such a disappointment to me, a guy who has had a lifelong appreciation for cameras and photography, that I began considering my other options only a month into owning the phone. I'm even curious about the Nexus 5, and no one even knows how that camera behaves yet.