Google Nexus 4 Specs

Nexus 4 is the best phone ever.
Low price
Good build quality
5 year contract
Supports LTE
Large screen
Good battery
Good camera
Nice look
IPS screen very bright
Good charger
From google
Every day update from CyanogenMod

I found the Nexus 4 to be a good smartphone for about 1 year or so. After that, it'll start showing its age: battery won't hold up anymore, the camera will have poor performance, you'll start experiencing overheating issues and if you don't use a case, expect some scratches. I also had a yellow-ish spot on the upper left corner of my Nexus 4 that I never managed to fix. All in all, I can't really say that I recommend this phone.

I am not going to focus on obvious things like pure android, affordable price etc, because it was being said every time.
In my opinion, although being two years old phone, Nexus 4 is still blazing fast and it doesn't look like it would change in the near future.
Some people say, that its very fragile, but chromed frame of the front screen is quite soft and can protect it from cracking. I cannot say that about rear glass panel. My got broken in unexplained circumstances, through the night.
Next things is, the phone is slippery and it is sometimes hard to me, to hold it comfortably.
Despite that, it IS a great smartphone.