Google is reportedly set to launch its Nexus 5 smartphone this week, a high-end device manufactured for the search giant by LG Electronics.

Apparently, the device will have a feature set that is on a par with other current high-end smartphones – 5-inch HD display, 2.3GHz quadcore processor and LTE, with 16GB and 32GB versions available.

Its launch will coincide with the commercial release of version 4.4 of Android (KitKat).

US pricing is mooted to be around $349.

Engadget suggested that the previous device, Nexus 4, may live on alongside the Nexus 5, albeit gaining support for LTE in the interim.

While the Nexus 4 included hardware support for LTE, it was not enabled in devices sold by Google.

However, it is not clear why Google may want to follow this path: it has never offered multiple Nexus smartphones simultaneously before, and does not really need to make any effort to drive Android competition in the mid-tier – where numerous other vendors are already competing fiercely.