The Korean language Web site Electronic Times has reported that Google is readying a killer smartphone, third-generation Nexus Prime, that would give Apple iPhone 5 a run for its money if it is launched in October.

Fortified with a faster processor and an eight-megapixel camera, the Android beast is expected to rock Apple's jolly ride to the much-awaited iPhone 5 launch.

The Nexus Prime will most likely be the first smartphone to run on Android 4.0 “Ice Cream Sandwich” and will likely be launched in October, the Web site reported.

Reports about this iPhone-slayer smartphone had surfaced a couple of months ago, and tech Web site BGR had offered an exclusive sneak peek into the features of the next Nexus model, which was called Nexus 4G. According to BGR, it was an 'absolute beast and would feature a next-generation dual-core 1.2GHz or 1.5GHz CPU as well as an OMAP 4460 or a, ultra low-power 28nm Krait-based Snapdragon.

The report had said the Nexus phone will feature a 720p HD “monster-sized display, a 4G LTE radio, 1GB of RAM, 1080p HD video capture and playback, a 1-megapixel front-facing camera, and a 5-megapixel rear camera.

Rumors suggest Apple's iPhone 5 could be released in October and will feature significant hardware and software upgrades. The device is touted to sport an 8-megapixel camera and A5 dual-core processor found in the iPad 2 as Apple is determined to give stiff competition to other dual-core smartphones in the market.

Meanwhile, Britain's Telegraph reported that the Nexus Prime is reportedly being built by Samsung and that it may sport a 1.5GHz dual-core processor as against the single core, 1GHz processor in the Nexus S. The display will be upgraded to a 4.5-inch 720p Super AMOLED HD screen, whereas the Nexus S display is 4-inch and with lower resolution, the report said.

It also speculates that the Nexus Prime could come without hardware buttons such as “home” and “back” found on smartphones.
Apple's iPhone 5 is expected to feature A5 processor, 4G connectivity, Near Field Communication (NFC) technology, panoramic photo capabilities and 1080p Full HD videos, and stronger gaming capabilities supported by multi-core A5 processor and Imagination Technologies' PowerVR Series6 mobile graphics processing architecture.

It will also have aluminum metal backing of the original iPhone instead of the current glass surface back piece, and have a teardrop design. An improved antenna, a SIM-less design, 3-4 internal antennas for both GSM and CDMA networks, and wireless charging capability are some of the other features expected in the device.

Speculation is rife that the upcoming Nexus Prime will be available on Verizon Wireless. TechnoBuffalo reported recently that though Nexus One and Nexus S were not available on Verizon, the Google Nexus Prime could make its way to Verizon Wireless network.

With industry rumors suggesting that both Nexus Prime and Apple iPhone 5 will be unveiled in October, a mouth-watering battle is on the cards. If this launch does happen in October, Google will need to make a big splash. After all, the iPhone 5 is rumored to be coming out that month and the Google is going to want to take away as many customers as possible from the new iPhone and iOS 5, writes