Source: LG Nexus is real, no LTE, GSM-only and coming to Google Play October 29th for $399

It’s about that time of year when Google refreshes its flagship device and the rumors swirling around the Internet have been pointing to an imminent launch. This week, we’ve seen leaked photos with an LG built device claiming to be the next “Nexus” phone and for the last few weeks, we’ve been hearing that this year, there will be not one, but five Google branded devices. If you’re unfamiliar, Google doesn’t ship out the hardware that runs its pure Android operating systems; they’ve always signed deals with a third party manufacturer. First, HTC, and the last two Nexus devices — Nexus S and Galaxy Nexus — have been built by Samsung.

According to a source (who wishes to remain anonymous) speaking exclusively with ByteNow, the next Nexus device to be announced will be LG-built, which corresponds with the latest leaked images, though our source wouldn’t confirm or deny if the leaked images are the real device.

The device will sport a quad-core 1.5GHz Snapdragon S4 CPU built on Krait architecture, 8GB of internal storage (which won’t be expandable), 2GB of RAM, and a sealed battery. You’ll be operating the phone on a 4.7-inch display that is “as beautiful, if not more beautiful, than the HTC One X’s display.” There has been speculation of a 16GB unit, but all prototypes that have been seen are 8GB units only.

While it’s possible that the LG Nexus device is built with a plastic shell, there is a “possibility” that the device’s rear will be enclosed with some sort of glass or extremely hardened plastic material.

We’re being told that the device has a 60% chance at being named “the Nexus 4″ and a 40% chance at being called the “LG Optimus Nexus.”

These specifications have been floating around the Internet for quite some time now, but what’s more interesting is this: The LG Nexus will be a Google Play launched device and it’s still unclear if there will be any carrier partnership to begin with. As of now, there will be NO LTE –presumably to keep costs low– version and all phones will be GSM-only, which means you’ll only be able to use them on AT&T and T-Mobile in the United States.

Our source also told us that they’ve been told that this Nexus device “will not land on Verizon Wireless,” and that Verizon Wireless “may never carry a Nexus device again” after the over-the-air-update debacle with the Samsung Galaxy Nexus this past year.

Our source tells us that it’s almost a certainty that the device launches on October 29th and will be available for purchase almost immediately for $399. Because the device is being sold through the Google Play Store and not a carrier, the device will be contract free.

We’re digging for more information, but this is all we’ve got at the moment. Should we hear anything, you’ll hear about it immediately!

[Image Credit: tech.onliner.by]

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