Nexus Prime sounds like something from the upcoming Transformers movie. But, BGR says it will be the first Android phone to be based on the Android “Ice Cream Sandwich” release.
Ice Cream Sandwich is supposed to unify the current fragmentation between phone (OS 2.3 Gingerbread) and tablet (OS 3.x Honeycomb) releases.
AndroidCommunity.com had info that indicated that HTC was producing the next Nexus flagship release. HTC produced the Nexus One while Samsung produced the current Nexus S flagship product.