Google may work again with South Korean company LG in making the successor of the popular LG Nexus 4.

The successor of the popular LG Nexus 4 dubbed as Nexus 5 is set to be launched in May at Google's I/O event.

Sources have said that LG is working on the Nexus 5 prototype, which will be based on LG's phablet Optimus G Pro that was revealed last month.

The LG Nexus 5 will naturally come with the latest Android version rumoured as the Android 5.0 Key Lime Pie, and will probably launch in May at Google I/O.

The LG Nexus 4 was considered as the most popular member of the Nexus family, which is the primary reason why Google is rumoured to be staying with LG for Nexus 5. The 5 will probably have the same sort of price tag as the 4 too.

The LG Nexus 4 was beset by supply problems, though. As soon as it hit the Google Play Store it sold out until today.

The specs of the LG Nexus 5 are only rumours just yet, but if it is based on the Optimus G Pro, we can make educated guesses.

Below are the five reasons why you should wait for the upcoming LG Nexus 5.

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.