I read in the news yesterday that some initial details on the new Google phone, due to be release next Fall, had been leaked. It is expected to have a huge 720p display and to be fueled by a double core 1.2GHz or 1.5GHz processor. It is also expected to be already LTE-compatible, hence the rumored name: Nexus 4G. It will run Android 4.0 (ice cream sandwich).

This new Google OS for mobile devices is expected to be equipped with Near Field Communications (NFC), so it might be the first phone that can really be used as a wallet for all kind of payments and transactions. And you might be able to use it to open doors for which you usually require a card.

Read more about it at BGR.

Additionally, we can expect a 4G LTE radio, 1GB of RAM, 1080p HD video capture and playback, a 1-megapixel front-facing camera, and a 5-megapixel rear camera. The 5-megapixel camera, however, is said to be an advanced 5-megapixel sensor delivering class-leading image quality in addition to superior low-light performance. The Google Nexus 4G will run Android 4.0 (Ice Cream Sandwich) and hold everything together in an ultra-thin package. We were told that Google is aiming to make the phone available around Thanksgiving, and our source couldn’t confirm a carrier, leading us to believe this might be one of the first AT&T 4G LTE smartphones. It’s also possible that this device will just be the flagship/reference Ice Cream Sandwich device — just like the Motorola DROID and Motorola XOOM were for Android 2.0 and Android 3.0, respectively — and not a Google Nexus-branded product, so we’ll have to wait and see. In either case, this sounds like an incredible phone regardless of what label is under the dress.

More information at Gizmondo and PC World.