Google and LG may join forces for the second time in making the successor of the popular LG Nexus 4.

According to sources, Google decided to work again with LG for the development of the next Nexus flagship smartphone because the latter did a good job with the Nexus 4.

A Korean forum spilled the beans that electronics firm LG is in fact working on the successor of the Nexus 4 smartphone and the next Nexus tablet that will debut on the upcoming Google I/O conference in May.

The successor of LG Nexus 4 coined as Nexus 5 is rumoured to sport a 5-inch full-HD (1920 x 1080) display translating into a pixel density of 440ppi. The device is also speculated to be equipped with NVIDIA Tegra 4 processor with 2GB of RAM, 8/16GB of internal storage, a 13-megapixel auto-focus rear camera with LED flash and a 3-megapixel front-facing camera.

The smartphone will bear the same affordable price as its predecessor, which is one of the selling points of LG Nexus 4.

The rumoured Nexus 5 will be running the latest Android iteration out of the box, and since the Android 5.0 Key Lime Pie is expected to launch in May at Google I/O, this will be the version underpinning the new flagship smartphone. The Android 5.0 Key Lime Pie is a well kept secret so far, as none of its features has leaked online so far.

This report is in line with previous reports that LG have halted the production of the Nexus 4 to make way for its upcoming smartphones, which LG defiantly denied.

However, LG Electronics SVP James Fisher confirmed that the LG Nexus 4 is just the first of the many devices that Google and LG will make. Fisher added that the firm will be launching its next generation smartphones at Mobile World Congress in Barcelona next month.

The Google I/O event scheduled to take place from May 15-17 in San Francisco. Thus, we should hear from Google in the coming months.

The only possible drawback of the smartphone is its limited supply in Google Play Store where it is offered cheaply. Thus, third party resellers hike the price in selling the smartphone.

Below are the top five features that will make the upcoming LG Nexus 5 successful in the market.

1. Amazing Screen Display - Rumours say that the LG Nexus 5 will include a 5-inch True HD screen display that promises great viewing experience and user interface.

2. Latest Android Operating System - As the device will be launched in partnership with Google, it is expected that the smartphone will come with the latest Android mobile software.

3. Better Camera - The upcoming LG Nexus 5 is rumoured to have 13 megapixels rear camera with LED flash. This will allow users to take clearer and crisper pictures.

4. Larger Internal Storage - One of the disappointing features of the LG Nexus 4 is its small internal storage. Hopefully, LG will bump the storage capacity up to 32GB.

5. Cheaper Price - The low price tag has always done the LG Nexus 4 well, so Google would be daft to ask for more. We may be looking at $300 for the 16GB and $350 for the 32GB LG Nexus 5.