It's true that the number refers to its size; that said, Nexus 4 is really 4.7". 4.7 is closer to 5 than 4, so I would not be surprised if they did name the next one Nexus 5.
And then I read some rumors saying it will have a full 5" screen. We'll see.
None of the Nexus devices fit in the pockets of the clothes of women I know. (First world problems, yes, but I wish I could recommend an Android device to them that they could carry around without having to use a purse. It doesn't help that Android is eating into the low-end market; barely anyone makes feature phones in the old candybar and flip form factors.)
I wish I could recommend an Android device to
them that they could carry around without having
to use a purse
My wife really likes her Razr M. Almost no bezel, so big screen for its size. And with a small hack you can run it on ATT or T-Mobile.But check out Aliexpress.com, and you will find lots of small form factors, if you're ok with ordering direct from China.
Even if it isn't available in a "basic pleasure model" configuration.