It has a quad-core processor, which Google says makes it the fastest smartphone on the market, according to Josh Topolsky at The Verge.
The Nexus 4 will not support LTE, though. This is a bummer for people in the U.S. as LTE is super fast and makes cellular web connections as fast as broadband internet.
The reason Google is skipping LTE is because it is offering the Nexus 4 as an unlocked, off contract phone for $300 around the world. LTE is not a uniform standard, notes Topolsky.
That price is the most revolutionary aspect of this phone. For some context, an unlocked iPhone 5 is $700. Google is either making no money, or very little selling this phone.