Android 5.0 Lollipop update is quickly reaching as many devices as possible as today it arrived on our 2012 Nexus flagship Nexus 4 phone.
This happens to be one of the heaviest update to Nexus 4 which was supplied with 4.2 Jelly Bean. After Kitkat rollout few months back this is one of the major update to 2012 flagship Nexus phone. As you all know that Android Lollipop is known for material design and privacy improvement like the Guest Mode with Smart Lock feature. you can learn more about Android 5.0 features at Android.com/lollipop.
The update was schedule for early November 2014 release but for unknown reasons it was delayed. The update file size is around 395 MB and you should be having minimum of 500 MB space left on your device with minimum of 60% battery life left on your device.
Here is the video showing on how to update Nexus 4 to Lollipop via Over the Air download -