The great smartphone race

Race for the best handset
Race for the best handset   

Every day it seems there's a new flurry of headlines tied to the smartphone industry.

This time—we're hearing new chatter about Google's upcoming Nexus 5 phone, along with a new LG entry that's featuring a lot of eye-catching curves.

Details of the Nexus 5 smartphone continue to leak out ahead of any official announcement from Google.

The Apple iPhone 5C at an Apple Store in Palo Alto, Calif.
Getty Images
The Apple iPhone 5C at an Apple Store in Palo Alto, Calif.

The latest talk is about a choice of colors, the standard matte black finish as well as a white version, each with a $349 price tag for the 16 GB model.

And Nov. 1 is being thrown into the rumor mill as a possible announcement or availability date.

On the other hand, the LG smartphone has claimed to be the first real curved phone as well as being "self-healing." A special protective film on the back cover is designed to rid the phone of scratches in minutes.

Only time will tell how Apple stands the ever-changing, innovative competition.

Apple reports earnings after the bell on Monday.

—By CNBC's Christina Medici Scolaro.