It’s the next-generation Nexus and this time LG has the privilege. And when Google goes "My pleasure!", they most likely mean it. The Nexus 4 aggressively undercuts competitors’ pricing as it sets out to wipe the floor with most of them in terms of speed and performance.the Nexus 4 flaunts a 4.7" WXGA IPS display and the most powerful chipset in an Android phone at the moment.
It has of course the latest Android OS and it will be the first in line to get the new ones as they come in.