Forget Nexus 4 as there is a new, more powerful phone is about to debut very soon called Sony Odin. It has 5 inch screen with 1920 x 1080 pixel resolution. HTC has already announced a phone called "J" with 5 inch 1080p display as well and Sony is looking to join the club.
Folks at Androidpolice have noted user agents of a phone codenamed Odin and they say that it will have pretty powerful specs that include the Qualcomm Snapdragon S4 pro, 2GB RAM and 1920 X 1080 pixel full HD resolution (giving it 441ppi). In other words, it is Sony’s take at the HTC J. However, until the company does not release it, we suggest you take everything with a grain of salt. [source]