In India, Now users have been reporting that Android 5.0.1 Lollipop Update has been rolling out to Nexus 4 and Nexus 5 devices. This update is available OTA and contains stability updates, bug fixes and improvements.
Recently, users have reported a number of bugs which are fixed in this update. Some of these bugs includes Bluetooth connectivity issues, battery drainage and Wi-Fi connection issues. This update comes with build number LRX22C.
Nexus 4 has an update size of 16.7MB and Nexus 5 update size is around 13.3MB. Last week, Google released factory images for Nexus 4 and Nexus 6 smartphones. Google have already released factory images for Nexus 9, Nexus 5 and Nexus 7 (2012 and 2013) smartphones.
To get this update go to Settings > About Device > System Update options and check if this update is available for your Nexus smartphone. If it says that the system is up to date then try it after some time to receive this update for your phone.
Recently, LG rolled out Android 5.0.1 Lollipop update for LG G3 smartphone. It is expected to roll out soon on other devices. Stay tuned.