Consumers may be disappointed but rumours claimed that no LG Nexus 5 will make an appearance at the upcoming Google's I/O event but just an updated Nexus 4.

Reports claimed the Internet giant Google is set to release an updated LG Nexus 4 with larger internal storage and LTE Radio. the Google Nexus 4 was criticized, as it lacked an LTE radio and the ability to support micoSD card for memory expansion.

Google seems to have addressed the concern, as the company is rumored to unveil an updated Nexus 4 at its upcoming Google I/O event, which begins on May 15. According to a report from SidhTech, the updated Google Nexus 4 is said to come out with an LTE radio and CDMA bands along with 32 GB of inbuilt memory.

Rumour has it that a 32GB version of the LG Nexus 4 coming to Google I/O instead with LTE and CDMA bands. This would be more plausible than the LG Nexus 5 as storage was an issue with the LG Nexus 4 and so was the lack of LTE.

Meanwhile, it seems that the release date of the rumoured LG Nexus 5 will be soon as reports claimed that the executives of Google and LG are already in talks about the successor of the popular Nexus 4.

According to The Korean Times, Google CEO Larry Page has shared a coffee or two with LG's chief executive Koo Bon-joon, with the pair discussing a potential successor to the Nexus 4, as well as exploring possibilities relating to LG's OLED technologies.

Google in particular are said to be incredibly keen to use LG's OLED tech, not just in phones, but possibly in a big-screen tie-up with Google TV.

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.

Other rumoured specs of the Nexus 5 include Qualcomm Snapdragon 800 processor that possesses a clock rate of 2.3GHz. The CPU finds assistance in 3GB of LPDDR3 RAM. Storage options are provided in the form of 16GB, 32GB or 64GB of internal memory. Adding to the list of these highly questionable details is a 3300mAh Li-polymer battery, under the hood.

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.