The Google Nexus 5 is due to arrive soon and the general consensus is that it will be a reworked version of the excellent LG G2 however reports on screen size seem to vary. It looks like the specification should be at least 2.3GHz Snapdragon 800 CPU, LTE and storage capacity that tops out at 32GB, with a 1080p screen. It will also launch with Android 4.4 KitKat.
Yesterday some reports came in that the new phone was showing on the Play Store at a price of $349 for the 16GB version, which is the same price as the Nexus 4 version when launched.
It is rumoured that the phone will launch on October 28th, so we shouldn't have to wait too long to find out if all these rumours are true. If they are then it will certainly be undercutting the iPhone 5c significantly.