LG Launches White Nexus 4, May Not Build a Nexus 5 for Google
"Nexus 4 set the standard for Android 4.2 Jelly Bean smartphones," said Dr. Jong-seok Park, president and CEO of LG Mobile Communications Company. "Nexus 4 White delivers the same Google experience to consumers in a stylish and attractive color option."

It also represents the same hardware experience. The Nexus 4 White features a 4.7-inch True HD IPS Plus with a 1280x768 resolution (320ppi) and Zerogap Touch technology, Qualcomm Snapdragon S4 Pro quad-core processor clocked at 1.5GHz, 2GB of RAM, and everything else found in and around the original Nexus 4.
Moving forward, it seems LG is content to focus on its own hardware. Won Kim, VP of LG Mobile in Europe, reportedly told All About Phones that LG will have no part in building a Nexus 5 for Google, in part because LG doesn't feel it needs the exposure.
"The Nexus 4 was a great success despite the production problems for us and Google. However, we do not need such a marketing success again," Kim is reported as saying.
Kim also said that LG has no plans to release a stock Android version of its Optimus G Pro or any other devices the way Samsung is doing with its Galaxy S4 Google Edition. As far as Kim is concerned, doing so would have "no added value" for LG.