Google on Monday confirmed to The Verge that it has no plans to restock the 8GB Nexus 4, BGR reports, pointing to the possible development and release date of the Nexus 5.

"While the 16GB model is still available in Google's online shop, this could be a very good indication that the next-generation Nexus 5 is on the way," BGR writes.

"And according unnamed sources speaking with Droid Life, the Nexus 5 will indeed launch sometime in October, likely toward the end of the month."

Google unveiled its Android KitKat statue on Tuesday and shared a video of the event on YouTube and tech pundits noticed Google employees in the video taking photos with an unkown phone, the International Business Times reports, leaving many wondering if the Nexus 5 has already been released.

The black device with Nexus branding on the back appears larger than the Nexus 4 smartphone and smaller than the Nexus 7 tablet, and has a particularly large camera sensor and visible LG branding, the International Business Times also reports.

If LG and Google are in fact working together on the Nexus 5, it is believed that the Nexus 5 could feature a similar pricing scale as the current Nexus 4 smartphone, which retails for $299 (8GB) and $349 (16GB), TheFullSignal.com reports.