And it's finally here. Google announced the highly anticipated next-generation smartphone in its popular Nexus series Wednesday, the Motorola-manufactured Nexus 6, alongside the official name of the next version of its Android mobile operating system.

The Nexus 6 will carry the torch from Google's previous two smartphone collaborations: the Nexus 5 and the Nexus 4.

"This new phone has a contoured aluminum frame, a 6-inch Quad HD display and a 13 megapixel camera," Google says in a press release. "The large screen is complemented by dual front-facing stereo speakers that deliver high-fidelity sound, making it as great for movies and gaming as it is for doing work. It also comes with a Turbo Charger, so you can get up to six hours of use with only 15 minutes of charge."

That's not all, however. The new Nexus 6 sports a sleek new design with emphasis on contours and it's no joke under the hood. The Nexus 6's display pushes out 493 pixels per inch and a 2.5Ghz quad-core Snapdragon processor hums below. There's also the 2-megapixel front-facing camera and the fact that the Nexus 6 is CDMA-compatible in North America, meaning Verizon and Sprint customers won't be shunned like they were with previous models. Buyers will be able to choose between Midnight Blue and Cloud White versions.

The Nexus 6 comes at a crucial time for Google. Apple entered the large-screen market fray recently, with its new iPhone 6 sitting at 4.7 inches and the iPhone 6 Plus pulling in 5.5 inches. Apple's iPhones have been 4 inches or under for the entirety of their exisitence, allowing Android and its many variants to capture an international market share that likes big screens.

Technospherists expected Google to come out with new Nexus products earlier this year, during the company's annual Google I/O conference. The Mountain View-based search giant, however, kept quiet. Speculation ran so high that many believed Google had forgone its budget-oriented, performance-geared Nexus approach for a premium "Silver" brand that was to take on Apple. Lucky for most, Google denied the rumors, stating that the Nexus series was critical to the development of a new Android.

Speaking of a new Android, Google also revealed that it would call Android 5.0 "Lollipop." The naming shouldn't come as much of a surprise (other than to those who had "Lemon Meringue Pie" pegged as the name) since Google has been following sweets, from 4.0 Ice Cream Sandwich to 4.4 KitKat, down the alphabet line.

Android 5.0 comes "with over 5,000 new APIs for developers. Lollipop is designed to be flexible, to work on all your devices and to be customized for you the way you see fit. And just like Android has always been, it's designed to be shared."

As The Verge puts it, "Google's Nexus 6 is a giant phablet designed for Android Lollipop." And Lollipop looks great.

Release date and pricing information are still unvavailable at press time, although don't expect it to break the wallet like an unlocked Galaxy S5 or iPhone 6 will. The Nexus series has done a good job of laying low so far and Google should continue the trend.