After months of leaks and rumors, today is the day that we look towards Mountain View and find out just what Google has in store for us.
How does it stack up, then? Does the LG-made Google handset have the power to take the crown from third-party devices? More importantly, can it be the fourth five-star handset, after the HTC One?
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Screen
There seems to be a certain desire amongst handset makers to create 5-inch flagship handsets, all with Full HD screens.
The Nexus 5 measures in just short of five inches, with a 4.95-inch screen. This packs in 1080x1920 pixels, meaning that there is a density of 445ppi.
HTC's flagship has the highest pixel density, as the 1080x1920 is pushed into a smaller 4.7-inch screen, giving 469ppi.
At exactly 5 inches, the Full HD Samsung comes with 441ppi, and with the biggest screen, but lowest density is the G2 with 5.2-inches of 424ppi.
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Processor and RAM
2GB of RAM is found in all four of the Android toting handsets. The differences come in the size of the processor.
Qualcomm's Snapdragon 800 processor adorns both the Nexus 5 and the LG G2, meaning they come with 2.26GHz of quad-core juice.
The older Snapdragon 600 processor is sat in the HTC One, meaning that it comes with 1.7GHz of quad-core goodness, and the Samsung with the larger 1.9GHz quad-core chip.
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Storage
Storage is key when it comes to modern handsets, as users are continually popping in HD movies, lots of music and apps of ever increasing size.
The Nexus 5 comes with 16GB or 32GB, meaning that it sits just below the HTC One which comes in 32 and 64GB flavors. Neither handset comes with microSD support.
As for the Korean firms, there are both 16GB and 32GB sizes, with the Samsung also coming with 64GB of storage. The Galaxy S4 also supports microSD up to 64GB, meaning that it comes with a potential 128GB.
We should point out that formatted storage will be less, after putting in the mobile software.
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Battery
We would all be very upset if any modern handset came without the ability to last for at least one days use. Thankfully, we know that the HTC One, Galaxy S4 and the LG G2 are all capable.
We won't know until we've had our official Nexus 5 review just how it handles, but it comes with 2300mAh. We've been told this should give 17 hours talk time, 8.5 hours of Wi-Fi internet or seven hours of LTE browsing.
The HTC One also comes with 2300mAh, which gives a quoted 18 hours of 3G talk time. Samsung's 2600mAh is slightly larger, but matches the Nexus at 17 hours talk time.
With the largest 3000mAh battery, the LG G2 comes with 17.5 hours of 3G talk time.
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Camera
When it comes to the camera, there is a lot to be said. Gone are the days where it was all about megapixels; there is now a lot more that can be put into mobile cameras in order to get the best pictures.
The Nexus 5 camera comes with an 8MP rear sensor, sat in the middle of all 4 handsets. The 1.3MP camera is the smallest of the front sensors.
HTC's UltraPixel technology means that there are larger pixels to let in more light. That means the 4MP can process more, and lower light images are a lot better. A standard 2.1MP sensor sits on the front.
Both of the Korean handsets still seem to follow the more megapixels mean better cameras route, with 13MP sensors on the back of both the Galaxy S4 and the G2. They differ slightly on the front, with 2.1MP on the G2, and 2MP on the S4.
Nexus 5 vs HTC One vs Samsung Galaxy S4 vs LG G2: Price (unlocked)
The big kicker to the Nexus 4 was it's low price point. The Nexus 5 matches the low low price that we saw, with unlocked prices starting at $349. This makes it by far the cheapest of all four handsets.
The next cheapest is the LG G2, currently at $200-plus more than the price of the Nexus 5, at $575. The HTC One is the next cheapest, at $585.
The most expensive of all four is the Samsung Galaxy S4, which is now retailing anywhere between $577 - $695 depending on carrier and memory capacity, seems outrageously pricey.