Google launched the Nexus 4 smartphone in collaboration with LG and the handset has received high marks from the smartphone industry. Previously, Google joined hands with HTC and Samsung to make its flagship smartphones and it seems that the high popularity of the Nexus 4 is driving the company to choose LG once again to manufacture its next smartphone, the Nexus 5.

Nexus 4 made its appearance in November 2012 and was welcomed by smartphone enthusiasts and tech gurus alike. However, at the same time, Google was criticized for the short supply of the handset. The Nexus 4 is known as the first device to run on Android 4.2 Jelly Bean.

It seems that Google is happy enough to join hands with LG once again to produce the Nexus 5. A Korea Times report says that Google founder Larry Page and LG Electronics CEO Koo Bon-joon met together, probably to discuss the upcoming Android smartphone.

"Larry Page invited Koo for a meeting while he stayed in Seoul last week. They discussed ways to improve their business partnership. The meeting lasted for more than an hour," reports Korea Times, citing sources.

The Korea Times also reports "LG needs help from Google to continue its business momentum in smartphones and TVs. That's why Koo met Page."

If the rumors are to be believed, then LG would become the second company to have two Nexus smartphones back to back. Previously, only Samsung developed the Nexus S and then the Galaxy Nexus.

The Nexus 4 packs in top-end features but has a relatively low price when compared to other high-end smartphones in its category.

Neither LG nor Google has announced their plans on when the next-generation Nexus smartphone will be released. As such, we will have to wait until an official announcement is made by one of the companies.