Rumors of the next generation Nexus smartphone is making buzz now, according to a report from Korea Times, LG is working on a new Nexus-branded smartphone – Nexus 5. Google has given the task of building the Nexus 5 to LG. Google and LG co-branded Nexus 4 was an impressive hit last year.

A supposed picture of Nexus 5, Code name 'Megalodon'LG will continue where it left off and is already hard at work developing the follow-up to the Nexus 4 handset, unveiled in November. LG is working on the next Nexus smartphone with the code name “Megalodon.”

According to some reports Nexus 5 isn’t just an upgraded version,  but a truly new device  with a very powerful quad-core 2.3GHz Qualcomm Snapdragon 800 processor on board and 5.2-inch OLED HD 1080p display.

In the shadow of Samsung and Apple, LG’s Optimus G and the Nexus 4 helped it gain some ground in the smartphone war, although it still trails far behind Samsung and Apple, who hold 32.7 percent and 17.3 percent of the global market respectively, compared to LG’s 4.8 percent.

However, there is no official confirmation from Google or LG just yet but  it’s said to be looking at an October 2013 release date.

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