Okay, so we all know that LG is indeed on working on a Nexus device with Google, thanks to the insane amount of leaked info and rumors about the device, to be called either the LG Optimus Nexus or LG Nexus 4. But other details such as the price it will be available for as well as its release date have eluded us, but thanks to a source of ByteNow, even those details have now been leaked.

According to the source, the LG Nexus will go on sale on October 29th for just $399 directly from the Google Play Store, though with only 8GB of storage and no LTE support in order to achieve that price. The source also mentions the 4.7″ HD screen as being beautiful, which shouldn’t be surprising considering LG’s recent advancements in displays (though I still prefer Super AMOLED displays over any LCD unit).

That is certainly good news if it turns out to be true, though with only 8GB of storage, no microSD slot, and no LTE connectivity, I’m not sure how many will be jumping on-board and getting one. There’s still a quad-core Snapdragon S4 Pro processor and 2GB of RAM powering the phone though, so I’m sure some will be willing to make the compromise.

It seems that after releasing the Nexus 7 at an affordable price, Google has its heart set at making their next Nexus phone affordable as well, though not without cutting corners in a few areas. Anyone getting the LG Optimus Nexus with 8GB of storage if it indeed comes out for $399? Or will you be waiting for the higher storage versions that are sure to come later on but with a higher price tag? Do let us know in the comments!