nexus 5
T-Mobile confirms rumors surrounding the launch of Nexus 5 saying it will arrive on the carrier next week. Google Play

Following a leaked document recently suggesting a Nov. 20 release date of the new Nexus 5 on T-Mobile (NYSE:TMUS), the U.S. carrier has finally confirmed the availability and pricing details of the latest flagship smartphone from Google (NASDAQ:GOOG).

T-Mobile announced on Friday that the Nexus 5 would be launched online on the company’s website on Nov. 14, while T-Mobile retail stores and select authorized dealers would begin selling the handset on Nov. 20.

According to the carrier’s installment plan, the 16GB version of the Nexus 5 will be available for an initial upfront cost of $41.99, followed by 24 equal monthly payments of $17, ultimately costing customers about $450.

If purchased directly from Google, the unlocked version of the handset will cost $349.99 for the 16GB model and $399.99 for the 32GB mode.

While a general assumption is that the carrier branded versions of the Nexus 5 will come in at a higher price point than directly through Google so that carriers can generate profits on the hardware, a T-Mobile representative has confirmed that it is not the case with the company as it “pays full retail price when it purchases the phone from Google's manufacturing partner, LG,” CNET reported.

The report said that the price difference for the Nexus 5 indicates that Google is subsidizing the phone for some unknown reason while not even making up the loss by charging service fees. However, according to the report, Google possibly is trying to drive more traffic into its Play Store to make it “a more mainstream distribution outlet for its products.”

Meanwhile, Sprint began selling the Nexus 5 for $50 with a two-year contract, while it also lists the "regular price" of the handset as $450.

The Nexus 5 features a 2.26 gigahertz Qualcomm processor with 2GB of RAM. The phone sports a 4.95-inch 1080p display and supports 4G LTE connectivity, Bluetooth 4.0, 802.11ac Wi-Fi, NFC and inductive charging.

As for the Android 4.4 KitKat, powering the Nexus 5, Google has introduced a number of user interface and app updates. The new OS has been slimmed down by removing unnecessary background services and reducing the memory consumption of features that are regularly used, an enhancement that allows KitKat to be run on devices with as little as 512MB of RAM.