I saw this on Rootzwiki, not sure if it has been posted yet. If it have been posted? I am sorry for the repost.
Issue 22021 - android - Volume down/mute on Galaxy Nexus running 4.0 - Android - An Open Handset Alliance Project - Google Project Hosting
Some here have posted rumors that the Galaxy Nexus has been delayed by Verizon due to a rebooting issue. I've been able to confirm that this is not the case, but there is a problem that has delayed the release (and apparently supply to the UK has been halted as well).
It's a volume issue. While playing music or even talking on the phone the volume will reduce... sometimes to a level that is too low to hear. The volume rocker does not work to increase the volume. I'm told that this may NOT me an ICS problem, but could be a hardware problem on Rev. 9.
I'm not trying to spread gloom and doom. It could be as simple as a software patch, but if it does require hardware revisions... well let's not talk about that.
This will probably be hitting the media soon.
Issue 22021 - android - Volume down/mute on Galaxy Nexus running 4.0 - Android - An Open Handset Alliance Project - Google Project Hosting