According to a recent report printed by a Chinese publication, next year’s replacement for the Nexus 4 will be manufactured by LG with its designs being based around the electronic giants recently announced G2.

Although LG originally refuted the idea of working on a Nexus 5 back in May – prior to its G2 unveiling – the company did not rule out the possibility of working with Google in the future.

MyDrivers published a report stating that it has received tips from various Korean sources, suggesting that the new Nexus 5 will be produced by LG and that Google’s current incredibly reasonable Nexus 4 pricing will be upheld.

The Nexus 5 is expected to pack a 5.2-inch full HD display, a 1.9GHz quad-core Snapdragon 600 processor, 2GB of RAM, a 10-megapixel rear-facing camera, 16/32GB of internal storage, multi-mode carrier support and a 3,000 mAh battery. It has also been reported the rear buttons would be relocated to the side of the device.

That’s a pretty impressive spec list for such an affordable high-end Android smartphone with a suspected price tag of $299.

• SourceMyDrivers