Is the device actually called the Nexus 5? I have a feeling that people are calling it the Nexus 5, as it is the replacement for the Nexus 4, but that's not how

Is the device actually called the Nexus 5? I have a feeling that people are calling it the Nexus 5, as it is the replacement for the Nexus 4, but that's not how the naming scheme works. Isn't the 4 in Nexus 4 because the screen is 4 inches? Same with the Nexus 7 having a 7 inch screen. When the Nexus 7 replacement came out, it was called the Nexus 7, because it had the same size screen. Does this new device have a 5 inch screen? Pedantic minds need to know!