By Keerthi Chandrashekar / Keerthi@latinospost.com (staff@latinospost.com) | First Posted: Jan 15, 2013 08:07 PM EST

While most of the world is still searching high and low for any Google Nexus 4 sightings, some intrepid, forward-looking tech junkies are busy gearing up for Google's next wave of Nexus devices. A new rumor leak reveals possible specs for the Google Nexus 5 smartphone and Nexus 7.7 tablet. Both are expected to be unveiled at Google's May 2013 I/O conference - here's what they could look like.

**The following specs are taken from Korean forum Ruliweb, and are by no means official. Take them, as always, with a healthy pinch of salt. 

Google LG Nexus 5

The next Nexus smartphone will also be manufactured by LG, and will ship with a larger 5-inch 1080p Full HD screen with 440 pixels per inch (ppi). The Nexus 5 will also apparently feature the new NVIDIA Tegra 4 processor, 2GB RAM, and be available in 8GB and 16GB variants. The Nexus 5 should also have a 13-megapixel rear-facing camera with auto focus and LED flash, as well as a 3-megapixel front-facing cameras. 

The Nexus 5's specs look to be in line with what to expect from high-end smartphones in 2013 but with one huge advantage - its price. According to the forums where the rumors originated, it will cost $299 for an unlocked 8GB model, the same pricing that made the Nexus 4 so tantalizing. 

Google LG Nexus 7.7

It looks like this time around, the new Nexus tablet will be produced by LG instead of ASUS or Samsung. As the name suggests, the Nexus 7.7 will sport a 7.7-inch WUXGA display with a resolution of 1920X1200 and 294 ppi. An NVIDIA Tegra 4 CPU with 2GB RAM should be powering the tablet, which will come in 8GB and 16GB versions. The tablet should also contain 720p HD front and rear-facing cameras. 

Based on the rumors, an 8GB Nexus 7.7 tablet will start at $299. 

It's also safe to assume that both these devices will be running the latest version of Android at the time their releases, most likely Android 5.0 Key Lime Pie, which is also expected to debut at Google I/O this year. Google's 2012 I/O conference marked the public debut of Android 4.1 Jelly Bean, the LG Nexus 4, and the ASUS Nexus 7. 

What do you think about these specs? Real or not? As usual, we'll have to wait until Google and LG decide to comment for a definitive answer.

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