On Tuesday, Nov.13, Google started taking orders for the company's latest smartphone, the LG Nexus 4. Reports now suggest that the Nexus 4 has sold out within its first hour in the U.S. and in the UK.

In the U.S. the unlocked Nexus 4 was only available through Google's online Play store, but T-Mobile is selling the latest Google smartphone on a two-year agreement.

In the U.S., Google sells the 8GB version of Nexus 4 for $299 and the 16GB model for $349. Google now prompts users to put in their e-mail address in order to get updates on when the phone will be available again.

Similarly, in the UK, Google's Android 4.2 powered Jelly Bean, new flagship smartphone went on sale from the Google Play online store. The demand for the 8GB version which is priced at £239 was so high that the site crashed. After the site came back in full working order the Nexus 4 was no longer listed as available for purchase.

The 16GB version of the smartphone which is selling at £279 also went out of stock and the site indicated that users leave an e-mail and they will be notified once the stock arrives.

However, the number of units sold in the U.S. and the UK is not available.

ZDNet reports that the smartphone is still in stock at O2, the only network provider in the UK with rights to carry the phone right now. Customers can get the Nexus 4 from O2 free on a two-year contract with £36 monthly fees.

In addition to O2 and the Google Play store, retailer Carphone Warehouse is also offering the Nexus 4 on plans from O2, Vodafone, and Three with a free handset on tariffs over £31 a month.

The price of an unlocked Nexus 4 is nearly half the price of an unlocked iPhone 5. With the initial demand for Nexus 4 hitting a high note, will iPhone 5 find the rug pulled from under its feet?