Google Nexus 5 running Android 4.4 KitKat has a blazing fast 2.26 GHz quad-core Qualcomm Snapdragon 800 processor and sticks with 2GB of RAM.
Design and simensions
The Nexus 4 tends to feel a little chunky, though at 133.9 x 68.7 x 9.1mm it actually doesn't fare too badly compared to the competition, while at 139g it has a bit of weight to it but not so much that you'll feel burdened by it.
It's quite good looking too, with a glass back complete with sparkly patterns to help it stand out from the crowd.
The Nexus 5 meanwhile is a similar shape, but ditches the glass back in favor of plastic. It arguably looks slightly less stylish as a result but it's bound to be more drop proof, too. Its dimensions are 137.84 x 69.17 x 8.59mm, making it longer and wider but slightly slimmer than the Nexus 4. At 130g it's also lighter.
One thing that never overly impressed on the Nexus 4 was it's camera. There's nothing inherently wrong with it but it just doesn't really stand out either. Its 8 megapixel sensor takes good but not great quality photos and it fares poorly in low-light conditions. Aside from the main camera the Nexus 4 also has a 1.3 megapixel front-facing camera and can shoot 1080p video at 30fps.
The Nexus 5 sticks with an 8 megapixel main camera, which is starting to seem a bit old hat, but it does at least add optical image stabilization, which should make it easier to take blur free photos. Like the Nexus 4 it has a 1.3 megapixel front facing camera.
Price: The Nexus 5 is launching at the price - a reasonable $349 for the unlocked 16GB version, and $399 for 32GB, with no word of 64GB.
Related: How to Recover Deleted Photos from Android on Google Nexus 5