The Nexus 4 will be the Google flagship for roughly one year. What he's saying is that, for the Nexus 5, there's a chance that LG isn't the manufacturer. So the 5 may not be based around the alleged Optimus G2, it could be based around whatever flagship device the selected OEM has at the time. Personally, I think they should stick with LG another go round, but it's too early to discuss anything yet. Also, it's highly unlikely that the 4 sees a mid cycle redesign. Where's the incentive for either Google or LG to do that?
Google seems to be naming their nexus line in accordance to screen size, not release number. so the next nexus may not be called nexus 5. unless of course, they make a 5 inch phone. they may release a nexus 3 as well, which might be cool.
i think they will switch manufacturer again probably, and shadow another sort of device again, and use that to differentiate, instead of apple going iphone 4 iphone 5 forever, which they tried to stop with "the new ipad" and which is confusing.
google can do nexus one with htc, galaxy nexus with samsung, they went LG nexus 4, which changed things up a little samsung nexus 10, so, i am not sure how they will release next, maybe a samsung nexus 4. or an asus nexus 4. or transformer nexus 4 idk. but i think the next handset that will be intended to replace the current LG nexus 4, will be also named the nexus 4, or, they will have come up with some new strategy of sorts, but i think that is less likely.
I don't think we will see another Nexus device before a 1 year cycle for the Nexus 4 is complete. Google knew fully well what it meant to skip out on the 4G on the Nexus 4 and since the Optimus G and Nexus 4 share the same production line, they went out of their way NOT to have 4G. So I highly doubt they'll backtrack with a redesign.
i think you're right about that, though, i could maybe see a nexus 3, or a nexus 4 32gb, or a nexus 4 white, or something like that, which will likely depend on demand, they sold a lot of galaxy s 3s, and a lot of iphones, and that's a large portion of the market on its own, and those are new, fewer people will buy the newer nexus if they already own one of those. i don't know how many phones google sold so far, but they seem to have sold a lot, and demand seems high, and there still seems to be a high demand for a nexus that this release didn't completely satisfy.
so, i don't consider it out of the realm of possibility, that sometime this spring, they release a new nexus 4, with a new color, and only in 16 and 32 gb variants, at the current price points, and potentially, releasing a nexus 3. but i think that is less likely. i think there is much more demand for larger phones than smaller phones, particularly from the demographic that would want a nexus phone, and that would order a non contract phone for that purpose. and also putting power in a smaller phone seems to me, would be more costly. so, i don't think it that likely that a nexus 3 is released. but a new nexus 4 with a color change and a larger storage capacity? i think that is a real possibility.