LPS?
I think he meant to type KLP.

Some chatter circIing this round: The Google Moto X will un-officially act as the new Nexus. So no new Nexus phones this year, but a new Nexus tablet (Nexus 7 or Nexus 8).

Its been stated that v5 will make little in terms of features, or look and feel to the current model. Most of the work will be under the hood to pave way for next-gen devices (multicore support, x64 architecture, latest Linux kernel, more enterprise support).

On a side note, we had (2010-2011):
Min - 2.1 and 500MHz Solo-core, 128MB RAM
Current - 2.2 and 800MHz Solo-core, 256MB RAM
Latest - 2.3 and 1GHz Solo-core, 512MB RAM

Then it phased to (2011-2012):
Min - 2.2 and 800MHz Solo-core, 512MB RAM
Current - 2.3 and 1GHz Solo-core, 512MB RAM
Latest - 4.0 and 1GHz Dual-core, 1GB RAM

Then to now (2012-2013):
Min - 2.3.6 and 1GHz Solo-core, 512MB RAM
Current - 4.0.3 and 1.4GHz Dual-core, 1GB RAM
Latest 4.1 - 4.2.2 and 1.5GHz Quad-core, 2GB RAM

And now to Googles current plans (2013-2014):
Then to now:
Bare Minimum - 4.0.3 and 1GHz Dual-core, 1GB RAM
Current - 4.2 and 1.5GHz Quad-core, 2GB RAM
Latest/Greatest - 5.0 and 1.8GHz Quad-core, 4GB RAM

...despite its efforts the issue of fragmentation is still at large.

Isnt it interesting how the industry evolves !!