Purportedly, Nexus 5 will not be released at Google’s I/o in May. Instead, rumors hint that Google will release it in October, near Android’s 5th anniversary. Instead of the Nexus 5, Google will likely release an updated Nexus 4 which will utilize LTE in addition to 32 GB of storage, up from 16 GB in the current model. These modifications will allow Nexus 4 to better compete with other high end smartphones as many of them have storage option greater than 16 GB and/or expandable storage via micro SD cards. For some the lack of LTE was a major gripe and Google hopes to fix that. It is doubtful that this new version of Nexus 4 will remain on sale for long if the upcoming Nexus 5 will sell for the same price.
Google’s Nexus 5 will likely be manufactured by LG and feature a Snapdragon 600 or 800 chipset, Android 5.0, 3 GB of RAM, a 5 inch 1080p display, 4G LTE, and 32 and 64 GB storage options with no expandibility. These specifications will undoubtedly allow the phone to compete with HTC One and Samsung Galaxy S4 as long as battery life is respectable. Nexus 5’s price point is one ambiguous aspect of the phone, but Google will likely want to continue the low cost trend of its Nexus devices. The price might rise a bit to $350 and $400 depending on model, but this is all speculation. With all things taken into consideration, Nexus 5 is almost certainly worth the wait.