One of the reasons I've purchased the Nexus line of products is because they are the first devices to get new system updates. Although my LG Nexus-4 was over 2 years old, I was glad that it was still slated to get Android 5.0 (Lollipop) when Lollipop was first announced.
For information about Lollipop, you can refer to the official website *HERE*. The 2 things that were of interest to me was mainly the improved battery life and the improved notifications. The battery life of my LG Nexus-4 was still very good and it could stay on standby with WiFi activated for over 24 hours between charges but not having to charge it as often is always something that I look for especially during those times when I am not able to charge my phone easily.
The update as mentioned in the above image requires a minimum of 500MB free on the device. I had a little over 1GB of space free on my LG Nexus-4 before going ahead with the upgrade and didn't experience any issues during the upgrade.
The upgrade process took me a little over 1 hour. My LG Nexus-4 had encryption on which might have increased the upgrade installation time. Personally, if upgrading, I would recommend planning not to have the use of the device for ~2 hours (depending on download speed).
After the upgrade, I noticed that a few of my applications were not Lollipop compatible (such as BT Notification application that came with the U8 Pro or UPro1 smartwatch). With the non-compatible applications, I removed them from my Nexus-4. Something else that I noticed after the upgrade was that for some reason, when I woke up in the morning, my LG Nexus-4 would be in a "frozen" state. When it was in this state, I could not get the screen to activate and would need to power off my device, wait a few seconds, and then power it back on again. The weird thing is that during the rest of the day, my phone would never go into this "frozen" state. It was only after I woke up that I wasn't able to power on the screen and it was also not something that happened every morning.
Prior to upgrading to Android 5.0, the Google Voice search on my Nexus-4 ("OK Google" search commands) worked seamlessly. However, after upgrading to Android 5.0, the "OK Google" search commands were more problematic.
One of the things that I noticed about Android 5.0 was that the phone could be unencrypted when powered on by using the pattern method. Prior to Android 5.0, the pattern method was not an option to encrypt/unencrypt the phone.
In terms of whether I'm happy with Android 5.0 on my LG Nexus-4, I would say that because my phone would randomly be "frozen" when I woke up, I can't really recommend people upgrading to Android 5.0 (although some of my friends who have upgraded to Android 5.0 didn't have the same issue as I experienced). Also, because I am using a U8 Pro or UPro1 smartwatch which relies heavily on the old Android notification system (and isn't compatible with the newer Android 5.0 notification system), Android 5.0 does limit some of the smartwatch's features which rely on the BT Notification app.
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