Source: Google and LG Planning Nexus 5

Nexus 4 handsets may still be in short supply, but according to an inside source, that isn't stopping Google and LG from already preparing a follow-up device, the Nexus 5.

A user on a Korean tech forum known as Ruliweb claims to have inside information about Google's next-gen Nexus device, which will supposedly sport a 5-inch full HD display and will be powered by an NVIDIA Tegra 4 processor. While the user reported other features like 8 GB or 16 GB of onboard storage, 2 GB of RAM, and a 13-megapixel camera, perhaps the most important detail is that it will run the next version of Google's Android OS, nicknamed "Key Lime Pie."

The user claims that the Nexus 5 will be unveiled a few months from now in May at Google's yearly Google I/O conference, at the same time that Key Lime Pie is announced. It will allegedly be made available shortly thereafter at a starting price point of $299.

Source: BGR