Interested in learning what's next for the gaming industry? Join gaming executives to discuss emerging parts of the industry this October at GamesBeat Summit Next. Register today.

Update: The Nexus 5 is here! Previous coverage below.

The Nexus 5 could debut in just a few hours.

Google’s latest Nexus device will reportedly be announced around 8 a.m. Pacific this morning, reports GottaBeMobile. (Note: Now rumors are pointing to 11 a.m. Pacific. Sit tight, nerds!) We last heard that the Nexus 5 could debut tomorrow, November 1, but now that seems more like a potential ship date.

GottaBeMobile says several of its sources have tipped the Nexus 5’s announcement for today, including Twitter user Gavin Phelan, who recently uploaded some photos of the phone.

But at this point, following several leaks (including one on Google’s own store) and an early launch page from Canadian carrier Wind Mobile, we know exactly what the Nexus 5 is: It sports a 4.95-inch display (only slightly larger than the Nexus 4’s), a quad-core Qualcomm 800 processor running at 2.3 gigahertz, an 8 megapixel rear camera with optical image stabilization, and it will sell for $349 unlocked. It’s also expected to support LTE 4G, which the Nexus 4 didn’t support (Google is reportedly working on an LTE version).

While the Nexus 5 seems like an improvement over the Nexus 4 in every way, there’s nothing about the device that differentiates it from the slew of other quality smartphones on the market. Its biggest draw (like the Nexus 4) will likely be its price, which is around half of what most other smartphones cost.

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative enterprise technology and transact. Discover our Briefings.