With the release date of Google upcoming smartphone called Nexus 5 (2015) drawing closer, the handset has once again come in focus. According to latest reports, the search engine giant may price the device below $500, which will make it cheaper compared to the existing Nexus 6.

A report in IB Times states that the Mountain-View, California-based tech giant may release the Nexus 5 (2015) aka Nexus 5 2nd Generation sometime either in October or November this year, since the current flagship phone of the company, the Nexus 6, will be completing its one-year-cycle in the market by this time.

However, the pricing aspect of the upcoming smartphone is a little bit of a concern for Google Nexus fans, especially after Nexus 6 came with a massive price hike over its predecessor, LG Nexus 5.

Citing a source close to the issue, GeekSnack reported that the Google Nexus 5 (2015) will come with a price tag lesser than $500. The report claimed that currently Google is working on keeping the handset affordable by not incorporating too many new features and design.

It is worth mentioning here that the Nexus 6 was not received well by gadget lovers mainly because of its 6-inch display and steep price rise. Google launched the Nexus 5 with a price tag of $350 for the 16GB variant and $400 for the 32GB model. Nevertheless, its successor Nexus 6 came with a price tag of $649 for the 32GB variant and $699 for the 64GB model.

Therefore it would not be surprising if Google makes its upcoming Nexus 5 2nd generation a reasonably priced handset, especially after the poor response received by the Nexus 6. However, at the moment, everything regarding the pricing of the upcoming smartphone ought to be treated as speculations until Google reveals the price officially.

Latest reports suggest that Google is expected to launch two variants of the upcoming Nexus 5 - one a successor of LG Nexus 5 and the other a successor of the current flagship device, Nexus 6. Meanwhile, Android Police reported that Google is once again collaborating with LG Electronics Corp. for the Nexus 5 (2015), which has been code named "LG Bullhead," while Huawei is currently working on another device code named "Huawei Angler," which is believed to be the Nexus 6 successor.

It is expected that the Google Nexus 5 (2015) will sport a 5.2-inch display (0.2-inch longer compared to its predecessor), be powered by a Qualcomm Snapdragon 808 processor and accommodate a 2,700 mAh battery unit.