The online rumor mill is churning out speculations about a second generation Nexus 5 device, which commenters are calling the Nexus 5 2015.

The latest claim making the rounds of the Internet is that the so-called Nexus 5 2015 will be compatible with Google's Project Fi wireless service.

Just last week, Google launched Project Fi as an experimental approach to bring down the cost of Internet access for mobile users. The aim of the service, which switches between cellular and Wi-Fi networks, is to convince major wireless carriers to offer a usage-based pricing system in which customers only pay for the cellular data they use.

Currently, only the Nexus 6 is compatible with Project Fi, but that may change if Google comes out with a new Nexus 5 that works on its new wireless service. The rumor came from an Android Origin report, which pointed out that the device used in a Project Fi video to demonstrate the service looks very much the way a new Nexus 5 could look, featuring the slight curved designs and thin bezels that LG put into the 2013 Nexus 5.

"This could suggest two things — that the Nexus 5 is going to gain support for the Google Fi service, or that Google is indeed planning a Nexus 5 refresh for 2015," said Android Origin.

Rumors of a second-generation Nexus 5 are plentiful. Earlier reports have surfaced that Google officials were seen coming in and out of LG's manufacturing facilities, particularly those of LG Display, in South Korea. And given that the current Nexus 5 – complete with its high-end specs and ultra-competitive price – is the most successful Nexus device to date, it makes sense that Google would turn to South Korea once again.

Other rumors however suggest that Google could be looking to Huawei to produce the next Nexus 5. Indeed, Kenin Yang, the director of Chinese research firm iSuppli, has said that Huawei will be the next Nexus manufacturer. Still, the rumors of a third Google-LG partnership aren't fading away, and many other armchair analysts have suggested that Google could be working yet again on two devices.

Some say that Google might be working on two Nexus 5 versions — a high-end, more expensive one made by LG, and a low-end version using Huawei's technology. This means Google could continue charging premium devices for its Nexus 5, as it started with the Nexus 6, while still being able to offer a cheaper option for those harking back to the days of the $350 Nexus 5 in 2013.

Others think Google could launch a new phone and tablet, as it did with the Nexus 6 and the Nexus 9.

Check out the video below to see what the new Nexus 5 could look like.

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