With the launch of the Galaxy Nexus in the UK earlier this month came reports of a bug that would randomly increase and decrease the volume. Google has confirmed the issue and promised a fix in a short statement:
“We are aware of the volume issue and have developed a fix. We will update devices as soon as possible.”
Presumably the fix will come in the shape of an OTA update but Google has yet to provide specific details. A less likely scenario would be a hardware fix of some kind.
The issue appears to be related to interference on the 900MHz frequency which is not used in Canada and the US.
Source: The Verge