Google ignited a frenzy when it slashed the off-contract price of its Nexus 4 smartphone to just $199, the same amount it costs for most leading smartphones on a new two-year service agreement. The 8 GB Nexus 4 is currently sold out on the Play Store, as a result, with only the 16 GB model remaining for $249.
Interestingly, it appears that the price drop could have been done intentionally as a clearance sale ahead of the next-generation Nexus 5. Google confirmed to The Verge that it has no plans to restock the cheaper model, and Droid Life claims that the next Nexus phone will arrive towards late October.
Hardware specifications for the Nexus 5 are rumored to include a 5.2-inch 1080p display, 2.3 GHz quad-core Snapdragon 800 processor, 13-megapixel rear-facing camera, 2 GB or 3 GB RAM, LTE, a 2,700 mAh battery and Android 5.0 Key Lime Pie.