The Android 4.2, Key Lime Pie release date has been confirmed by LG to be taking place on Oct. 29.
Amit Gujral, LG's head of Mobile Product Planning announced this information at the Optimus Vu launch event during an interview with IBNLive.
"Google will unveil the LG Nexus on October 29 and the phone will be available in the Indian markets by the end of November," he said.
He also revealed some of the featured specifications on the upcoming LG Nexus phone that includes a 4.7-inch display, Android 4.2, and a 1.5GHz processor.
The smartphone is also expected to come with 2GB RAM, a 1280 x 768 IPS display, an 8-megapixel camera, and a non-removable battery. It will also be available in two memory capacities, including a 8GB and 16GB version and it will not have a microSD slot.
The LG Nexus smartphone will be the fourth phone in the Google Nexus lineup that also includes the Samsung Galaxy Nexus.
The last major Android operating system update debuted earlier this year during the unveiling of the Google Nexus 7 tablet and Android 4.0 was introduced in 2011 during Google and Samsung's joint Galaxy Nexus smartphone event.
The specifications for the LG Nexus device were leaked at the beginning of this month. The leaked information seems to match up well with what Gujral mentioned.
The announcement of Android 4.2 makes the unveiling of this device that much more exciting. Android 4.1, JellyBean is just starting to roll out for many of the more popular Samsung devices. Key Lime Pie updates will most likely not roll out until 2013.
Google Now should receive a significant upgrade along with bug fixes and various other updates on Android 4.2.