The battle is on for the upcoming Android OS version. Consumes are eager to find out whether the LG Nexus 5 smart phone or Nexus 7.7 tablet will be first launched at the Google I/O event featuring the Android 5.0 Key Lime Pie or perhaps it will be incorporated in both devices.

Release date of the Android 5.0 Key Lime Pie has not yet been confirmed. However, recent reports suggest that it will occur at the Google I/O event on May 15 to May 17 concurrently with the alleged unveiling of the Nexus 5 and Nexus 7.7 tablet.

Meanwhile, here are the rumored features and specifications for the LG Nexus 5 smart phone and Nexus 7.7 tablet:

Nexus 7.7 Tablet

1. Tablet has a 294 ppi screen display with 1920x1200p resolution.

2. Use of Tegra 4 CPU from NVIDIA.

3. 8GB internal storage capacity.

4. Front- and rear-facing cameras.

LG Nexus 5

1. The Nexus 5 smart phone has a 5-inch HD IPS+LCD screen display.

2. A 1080x1920p screen resolution with 441ppi similar with the HTC DROID DNA.

3. A Snapdragon 600 or Snapdragon S4 Pro processor clocked at 1.7GHZ Krait with Adreno 320 GPU.

4. A 13MP camera with LED flash, HD video and Street View Photo Sphere feature.

5. A 2GB of RAM with Wi-Fi, Bluetooth, microUSB support and 3.5mm audio jack.

6. NFC and LTE support.

If the Nexus 7.7 tablet is indeed launched with the Android 5.0 Key Lime Pie, it faces tough competition with other powerful tablets like the Apple iPad Mini or upcoming iPad Mini 2 as well as the Samsung Galaxy Note 8.0. The same goes for the Nexus 5 smart phone as it battles the iPhone 5S/6 and Samsung Galaxy S4. For now, the excitement is just building up on what will be revealed at the Google I/O event this coming May.