The Nexus 4 is dead.
Last week, Google Play sold out of the 8GB version of the LG-produced phone, and Google said it had no plans to bring more to market. Yesterday, the 16GB version became unavailable, and according to unnamed sources reported by The Verge and AllThingsD, Google has no plans to restock the device in any storage size.
The prices of both versions of the unlocked, unsubsidized phones were recently slashed to $200 and $250 respectively, a $100 reduction from their normal prices. Google's recent round of price chopping may have been a way to clean out inventory and signal the impending debut of the next-generation Nexus 5. Just in time for the holiday season!
While LG has publically said it has no plans to build the Nexus 5, there is some evidence to the contrary. The FCC recently approved a new LG phone that looks very similar to the Nexus 4 and which will--like the Nexus 4--run on an unmodified, stock version of Android.
Whatever the new LG phone is, the KitKat-powered device will boast a 5-inch display as compared to the Nexus 4's 4.7-inch display. Additionally, it will be powered by a top shelf Snapdragon 800 processor, which is an evolutionary step over the Nexus 4's Snapdragon S4 Pro. The new phone will also support 4G LTE, which would be a welcome change from the Nexus 4, which only supported HSPA+ and Wi-Fi.
Going by history, the timing for a new Nexus phone from LG would be just about right as the Nexus 4 was first introduced in late-October 2012 for a November release. There have been no official confirmation from either Google or LG regarding the existence of a Nexus 5, but the recent price-slashing, FCC-filing, and that embarrasing video mistake would point that an announcement may be forthcoming.