Google will announce an update version of its Nexus 4 smartphone with more storage and upgraded network capabilities, according to the folks at SIDHTech.

Many were puzzled when the Nexus 4 didn't carry LTE or a 32GB version when it was announced last autumn. Now, at Google I/O in May, the folks in Mountain View will finally take the wraps off the Nexus 4 with 32GB and LTE.

SIDHTech says the the 32GB Nexus 4 will get CDMA support, along with LTE, which would make it compatible with Sprint and Verizon in the US. Currently, a GSM model is only available on Google Play for AT&T and T-Mobile bands.

Perhaps this model was always in Google's sights, but manufacturing issues may have held it back from launching next to its 16GB counterpart. We're just speculating.

Google is also expected to reveal its next major version of Android at the May conference: Android 5.0 Key Lime Pie.

Pocket-lint will bring you the latest from Google I/O in mid-May.