The biggest question on everyone’s mind as we count the few days remaining before Google I/O starts is whether we’ll see a new Nexus smartphone/tablet, and rumor mills have hinted at the possibility of the Nexus 5 to be announced at the event. Now, a report out of Korea Times claims that LG is indeed working on the next Android smartphone for Google.

The report comes after Google CEO Larry Page met with LG CEO Koo Bon-joon in his hometown of Seoul, South Korea last week, where they talked about ways to improve their business partnership. Apparently, LG is looking to do that by releasing more Google TVs, the next LG Nexus device (possibly named the Nexus 5), and perhaps even manufacturing Google Glass somewhere down the line (which, if true, would mean that Google will work with different manufacturers for Glass as well, like the Nexus program).

LG has already officially announced that it would be releasing a few Google TVs in 2013, though those aren’t going to be like the Nexus devices – they will only use Google’s TV software instead of being a collaboration with the search giant, though LG might be looking to change that and this meeting might just have taken place to discuss those ideas. Also, a recent patent by LG regarding head mounted displays gives credence to the possibility of LG manufacturing Google Glass, though that would be a long way off in 2014.

As for the next Nexus, traditionally each new smartphone in the series has come a year apart, and according to the report, the Nexus 5 will only be showcased at I/O while being launched sometime during the holiday season. We are probably looking at a Nexus using hardware from the Optimus G Pro, which would give it a 5″+ 1080p screen, quad-core Snapdragon 600 processor, and other high-end specs, though there’s also talk that Google might go with the NVIDIA Tegra 4 chipset instead of a Snapdragon.

LG has rapidly climbed the ladder lately when it comes to brand recognition in the extremely competitive mobile market, and further partnerships with Google would only increase their reach, so don’t be surprised to see the LG Nexus 5 or LG Google TV announced at Google I/O. For now it’s all a rumor though, so we’ll just hold our horses till Google I/O before coming to a judgement.

What do you guys say to an LG Glass and LG Nexus 5?